M&A Deal Summary

Raytheon Co. Acquires Flight Options

On December 1, 2005, Raytheon Co. acquired transportation company Flight Options from Monitor Clipper Partners

Acquisition Highlights
  • This is Raytheon Co.’s 1st transaction in the Transportation sector.
  • This is Raytheon Co.’s 6th transaction in the United States.
  • This is Raytheon Co.’s 1st transaction in Ohio.
Investment Fate
  • Flight Options was divested to a consortium of buyers in 2007.

M&A Deal Summary

Date 2005-12-01
Target Flight Options
Sector Transportation
Buyer(s) Raytheon Co.
Sellers(s) Monitor Clipper Partners
Deal Type Add-on Acquisition

Target

Flight Options

Cleveland, Ohio, United States
Flight Options is a private jet aviation company that operates a fleet of 130 luxury aircraft to provide a full suite of services to businesses and high net worth individuals. Flight Options was established in 1998 and is based in Cleveland, Ohio.

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Buyer(S) 1

Buyer

Raytheon Co.

Waltham, Massachusetts, United States

Category Company
Founded 1922
Sector Defense
Employees61,000
Revenue 27.1B USD (2018)
DESCRIPTION
Raytheon office in Burlington, Massachusetts.
Raytheon office in Burlington, Massachusetts.

Raytheon Company is a technology and innovation leader specializing in defense, security and civil markets throughout the world. Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon was established in 1922 and is based in Waltham, Massachusetts.


DEAL STATS #
Overall 6 of 20
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 18
State: Ohio M&A 1 of 1
Country: United States M&A 6 of 20
Year: 2005 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-22 UTD

Springfield, Virginia, United States

UTD is widely recognized for providing superior innovative engineering and scientific analysis, assessment and technology development.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-05 Virtual Technology

Alexandria, Virginia, United States

Virtual Technology Corporation (VTC), a leading developer of joint, net-enabled command and control and modeling and simulation solutions (M&S).

Buy -

Seller(S) 1

SELLER

Monitor Clipper Partners


Category Private Equity Firm
Founded 1998
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Monitor Clipper Partners (MCP) is a private equity group formed by consulting firm The Monitor Group and private equity firm The Clipper Group. MCP targets private equity investments in middle-market companies in North America and Western Europe and looks to commit $10 to $70 million of equity per transaction. MCP does not focus on any particular sector but current portfolio companies suggest an interest in business services, natural/organic foods, specialty retail, health care services, gaming, logistics, mortgage technology, marketing services, financial services and metals. The Firm will consider both control and minority positions. Monitor Clipper Partners was formed in 1998 and is based in Cambridge, Massachusetts with additional offices in Zurich, Switzerland, Toronto, Canada, Luxembourg and London, United Kingdom.


DEAL STATS #
Overall 9 of 35
Sector: Transportation M&A 2 of 4
Type: Add-on Acquisition M&A Deals 5 of 15
State: Ohio M&A 1 of 3
Country: United States M&A 8 of 28
Year: 2005 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Papyrus-Recycled Greetings

Chicago, Illinois, United States

RPG designs, manufactures and distributes a humorous and affectionate line of everyday and seasonal greeting cards and other social expression products throughout the U.S. and Canada. RPG sells over 100 million cards to over 17,500 retail stores in the U.S. and Canada through most major channels of distribution including mass merchandisers, chain drug stores and supermarkets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 Codere

Alcobendas, Spain

Codere is a Spanish multinational company in the private gaming sector in Europe and Latin America. Codere was founded in 1980 and is based in Alcobendas, Spain.

Sell -