L3Harris Technologies has completed the sale of its Electron Devices and Narda Microwave-West businesses to Arlington Capital Partners, a Washington, DC-area private equity firm. The first we heard of this was in August 2021. Proceeds from the divestitures are expected to be used for share repurchases.
The businesses were part of L3Harris’ Aviation Systems segment and are leading providers of RF amplification products for the space, electronic warfare, radar, medical, and industrial end markets. The businesses have more than 800 employees across its three facilities in Torrance, CA, Williamsport, PA, and Folsom, CA.
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea, and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries.