Vertex acquiring Raytheon biz lines

MADISON, Miss. - Vertex Aerospace announced Sept. 10 it has signed a definitive agreement to acquire Raytheon Technologies Corp.’s Defense Training, Professional Services, Mission Critical Solutions, and Modernization and Sustainment business lines. The Defense Training and Mission Critical Solutions business is a provider of training and sustainment services and products to the defense and commercial aerospace industries. The acquisition adds scale and diversity to the Vertex portfolio, and expands its service and product offerings with defense and government agencies both domestic and international. Vertex President/CEO Ed Boyington says he’s looking “forward to welcoming over 2.000 talented, dedicated and highly skilled employees to our team." The acquired business lines fall into four segments: Defense Training Solutions, Commercial Training Solutions (Raytheon Professional Services), Mission Critical Solutions and Modernization & Sustainment that has generated nearly $1B in sales during 2020. The transaction will close following the satisfaction of customary closing conditions, including receipt of regulatory approvals. Vertex, acquired by American Industrial Partners in 2018, is HQ'd in Madison, Miss., and employs about 3,500 employees. (Source: Vertex Aerospace 09/10/21)