By Iris Dorbian
L-3 Communications has acquired Burnsville, Minnesota-based Aerosim, a provider of commercial flight training. No financial terms were disclosed. Aerosim was backed by Lincolnshire Management.
NEW YORK –(BUSINESS WIRE)
L-3 Communications (NYSE:LLL) announced today the acquisition of Aerosim, including Aerosim Technologies, Inc. (“Aerosim Technologies”) located in Burnsville, Minnesota, and Aerosim Flight Academy, Inc. (“Aerosim Academy”) located in Sanford, Florida. The acquisition was completed on September 30, 2016 and terms were not disclosed. Following the acquisition, Aerosim will be integrated into the L-3 Commercial Training Solutions (L-3 CTS) division of the company’s Electronic Systems business segment and will be renamed L-3 Aerosim-CTC. Aerosim is projected to generate approximately $50 million in sales for the year ending December 31, 2017 and to be accretive to L-3’s earnings.
Aerosim is a globally recognized leader in commercial training with capabilities that are complementary to those offered by L-3 CTS. Aerosim Technologies provides innovative portable and flexible pilot and maintenance technician training products, enhancing efficiency with lower-cost solutions. Aerosim Academy, a flight school for prospective airline pilots, trains both U.S. and international cadets.
“The addition of Aerosim is a good fit with L-3’s expanding business of providing customized solutions that address the global shortage of pilot training resources and the increasing demand for qualified pilots,” said Michael T. Strianese, L-3’s Chairman and Chief Executive Officer. “Aerosim adds value to our portfolio and further exemplifies our disciplined growth strategy in key markets.”…. read more
Additional Articles :
- L-3 Acquires Aerosim From Lincolnshire Management – Wall Street Journal – http://www.wsj.com/articles/l-3-acquires-aerosim-from-lincolnshire-management-1475610230
- L-3 Acquires Aerosim – Business Wire – http://www.businesswire.com/news/home/20161004006215/en/L-3-Acquires-Aerosim
- L-3 Acquires Aerosim – Yahoo Finance – http://finance.yahoo.com/news/l-3-acquires-aerosim-153100072.html