AIP agrees to buy L3T components

CRESTVIEW, Fla. - L3 Crestview Aerospace, a helicopter component manufacturer that employs 500 people at Okaloosa Industrial Air Park, is set to be sold to American Industrial Partners, a New York-based investment firm, as part of a $540M cash deal, according to an L3 Technologies media release. L3T is the manufacturer’s parent company. In the pending deal, AIP will acquire two components of L3 Technologies: Vertex Aerospace and TCS. Vertex Aerospace provides aviation logistics and aircraft maintenance, repair and overhaul services. TCS provides engineering services and logistics support. The sale is expected to be finalized in the summer pending regulatory approvals, according to L3T. The sale is part of an ongoing L3T restructuring effort. (Source: NW Florida Daily News 05/25/18) Vertex Aerospace also has a location in Madison, Miss.