Add-on Acquisition • Communications

L3Harris Acquires CapRock Communications

On July 30, 2010, L3Harris acquired communications company CapRock Communications from ABRY Partners for 525M USD

Acquisition Context
  • This is L3Harris’ 9th transaction in the Communications sector.
  • This is L3Harris’ 4th largest (disclosed) transaction.
  • This is L3Harris’ 20th transaction in the United States.
  • This is L3Harris’ 3rd transaction in Texas.

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M&A Deal Summary

Date July 30, 2010
Target CapRock Communications
Sector Communications
Buyer(s) L3Harris
Sellers(s) ABRY Partners
Deal Type Add-on Acquisition
Deal Value 525M USD
Advisor(s) Credit Suisse Investment Banking (Financial)

Target Company

CapRock Communications

Houston, Texas, United States
CapRock Communications, Inc. is a provider of satellite communications services to the energy industry and the government.
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Buyer Overview 1

Buyer

L3Harris

Melbourne, Florida, United States

Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 21.3B USD (2024)
DESCRIPTION
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.

L3 Harris is a producer of communications products, systems and services for global markets, including RF communications, integrated network solutions and government communications systems. L3Harris Technologies was founded in 1895 and is based in Melbourne, Florida.


Deal Context for Buyer #
Overall 23 of 30
Sector: Communications 9 of 11
Type: Add-on Acquisition 20 of 24
State: Texas 3 of 3
Country: United States 20 of 27
Year: 2010 3 of 3
Size (of disclosed) 4 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-30 Harris CapRock Communications

Houston, Texas, United States

Harris CapRock Communications, Inc. is a provider of satellite and terrestrial communication solutions for primarily the maritime and energy markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-04 Carefx

Scottsdale, Arizona, United States

Carefx, Corp. is a provider of healthcare interoperability solutions including identity and access management and enterprise portals for hospitals, Regional Health Information Organizations (RHIOs) and Health Information Exchanges (HIEs).

Buy $155M

Seller Profile 1

SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


Deal Context for Seller #
Overall 22 of 104
Sector: Communications 5 of 15
Type: Add-on Acquisition 10 of 54
State: Texas 4 of 12
Country: United States 22 of 89
Year: 2010 5 of 8
Size (of disclosed) 18 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-26 iTradeNetwork

Pleasanton, California, United States

iTradeNetwork is an on-demand solutions provider for the Foodservice and Retail industries. The company is focused on providing the most efficient solution for the entire supply chain from beginning to end. iTradeNetwork provides integrated solutions that fully manage demand forecast planning, promotional planning, buy/sell transactions from placement through transportation, delivery, and payment.

Sell $525M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-04 Executive Health Resources

Newtown Square, Pennsylvania, United States

Executive Health Resources is a provider of medical necessity regulatory compliance and physician medical management solutions to hospitals and health systems in the United States. The company offers outsourced turnkey expert solutions focused on improving hospital efficiency and compliance through teams of specially-trained technology enabled Physician Advisors.

Sell -