L3T completes sale of Vertex biz

NEW YORK – L3 Technologies announced July 3 that it had completed the sale of its Vertex Aerospace businesses to American Industrial Partners for $540M in cash, subject to customary adjustments. The sale included the Crestview (Fla.) Aerospace and TCS business units, which were part of L3’s Aerospace Systems business segment. Vertex Aerospace provides aviation logistics services, supply chain management, and maintenance, repair and overhaul services. Crestview Aerospace provides select rotary aircraft component fabrication and assembly, and TCS provides select engineering services and logistics support. L3T also had aerospace assets under the name of L3 Technologies Systems in Madison, Miss. (Source: Business Wire 07/03/18)