M&A Deal Summary

TJC Acquires L3Harris’ Commercial Aviation Solutions

On November 27, 2023, private equity firm TJC acquired aerospace company L3Harris’ Commercial Aviation Solutions from L3Harris for 700M USD

Acquisition Highlights
  • This is TJC’s 2nd transaction in the Aerospace sector.
  • This is TJC’s 5th largest (disclosed) transaction.
  • This is TJC’s 86th transaction in the United States.
  • This is TJC’s 5th transaction in Florida.

M&A Deal Summary
Date 2023-11-27
Target L3Harris’ Commercial Aviation Solutions
Sector Aerospace
Buyer(s) TJC
Sellers(s) L3Harris
Deal Type Divestiture
Deal Value 700M USD

Target

L3Harris’ Commercial Aviation Solutions

Melbourne, Florida, United States
L3Harris’ Commercial Aviation Solutions (CAS) operates two business units, Avionics unit that designs and manufactures mission-critical, IP-driven avionics products, and the Commercial Training Solutions (“CTS”) unit provides an integrated suite of aircraft training solutions. The Avionics unit enhances safety increases efficiency and situational awareness for next-generation requirements and helps its customers create safer skies. Their products include ADS-B NextGen surveillance, configurable voice and data recorders, collision avoidance systems, navigation products, display systems, processors, and additional products such as satellite communications equipment and data analytics services. The CTS unit manufactures training systems and provides airline training, including recurring courses for pilots and airline academy participants. The training systems suite includes full flight simulators, flight training devices, flat panel trainers, and relevant training courseware and equipment upgrades. L3Harris’ Commercial Aviation Solutions (CAS) is based in Melbourne, Florida.

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Buyer(S) 1

Buyer

TJC

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 89 of 93
Sector (Aerospace) 2 of 2
Type (Divestiture) 9 of 9
State (Florida) 5 of 5
Country (United States) 86 of 89
Year (2023) 4 of 4
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-27 Global Transport Solutions

Rozenburg, Netherlands

Global Transport Solutions is a provider of comprehensive supply chain and forwarding solutions to the maritime industry and other time-critical verticals. Global Transport Solutions is based in Rozenburg, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-02 TIDI

Neenah, Wisconsin, United States

TIDI is a manufacturer, marketer, and distributor of a diversified portfolio of medical products focused on supporting caregivers and protecting patients. Based in Neenah, WI, the Company's broad product set is designed to help customers prevent "Never Events" (medical errors that should never occur), reduce costs, increase efficiencies, and drive better patient outcomes. TIDI Products was founded in 1969 and is based in Neenah, Wisconsin.

Buy -

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 22 of 23
Sector (Aerospace) 2 of 3
Type (Divestiture) 21 of 22
State (Florida) 7 of 7
Country (United States) 22 of 23
Year (2023) 2 of 2
Size (of disclosed) 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-10 L3Harris Technologies ’s Visual Information Solutions

Melbourne, Florida, United States

L3Harris Technologies, Inc.’s Visual Information Solutions (“VIS”) is a subscription-based commercial geospatial technology and software business that comprises 16 U.S. Patents for geospatial data analytics.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 A.O.T

Jonesborough, Tennessee, United States

A.O.T is a provider of advanced specialty materials, fabrication, and high-strength alloy manufacturing, including depleted uranium-engineered materials. A.O.T is based in Jonesborough, Tennessee.

Sell $100M
Mergr

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