M&A Deal Summary

RENK Acquires L3 Harris Technologies - Combat Propulsion Systems Business and Magnet-Motors

On March 1, 2021, RENK acquired machinery company L3 Harris Technologies - Combat Propulsion Systems Business and Magnet-Motors from L3Harris for 400M USD

Acquisition Highlights
  • This is RENK’s 1st transaction in the Machinery sector.
  • This is RENK’s largest (disclosed) transaction.
  • This is RENK’s 1st transaction in the United States.
  • This is RENK’s 1st transaction in Florida.

M&A Deal Summary
Date 2021-03-01
Target L3 Harris Technologies - Combat Propulsion Systems Business and Magnet-Motors
Sector Machinery
Buyer(s) RENK
Sellers(s) L3Harris
Deal Type Divestiture
Deal Value 400M USD

Target

L3 Harris Technologies - Combat Propulsion Systems Business and Magnet-Motors

Melbourne, Florida, United States
L3 Harris Technologies' Combat Propulsion Systems Business is a supplier of transmissions and engines in the U.S. and international armored vehicle market. Magnet-Motors is involved in the development and design of high-performance electric power supplies and hybrid drive systems for military applications.

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Buyer(S) 1

Buyer

RENK

Augsburg, Germany
Category Company
Founded 1873
Sector Machinery
Employees3,750
Revenue 849M EUR (2022)
DESCRIPTION

RENK is a manufacturer of special gear units and transmissions for tracked vehicles, industrial applications, and the shipbuilding industry, as well as components for propulsion technology and test systems, supplying customers all over the world. RENK was founded in 1873 and is based in Augsburg, Germany.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

L3Harris

Melbourne, Florida, United States
Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 19.4B USD (2023)
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 STATS #
Overall 16 of 22
Sector (Machinery) 1 of 1
Type (Divestiture) 15 of 21
State (Florida) 4 of 7
Country (United States) 16 of 22
Year (2021) 2 of 5
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 L3 Harris Technologies - Military Training Business

Tampa, Florida, United States

L3 Harris Technologies' Military Training Business provides military training solutions; Doss Aviation is the provider of initial flight training to the United States Air Force (USAF); and AMI is a design and manufacturing facility for simulator hardware.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Stellant

Torrance, California, United States

Stellant is a provider of RF amplification products for the space, electronic warfare, radar, medical and industrial end markets. The Company designs and assembles traveling wave tubes (TWTs), nano microwave power modules, and other related subsystems, and is a provider of space-qualified TWTs. Stellant is based in Torrance, California.

Sell -
Mergr

Product

Company

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