Warren B. Kanders, a single-family office owner, has agreed to purchase L3Harris Technologies’ antenna and test equipment businesses for $200 million. The deal includes $175 million in cash and a seller note worth $25 million, and is expected to close in the current calendar quarter.
Kanders & Co.’s acquisition of these businesses will allow it to establish Fisica, a new defense electronics company that will supply prime contractors and Defense Department agencies with its product portfolio, customer relationships, and program base. Warren B. Kanders sees potential for growth through this expansion into the defense electronics industry.
The businesses being sold currently employ about 375 people and are part of L3Harris’ space and airborne systems segment. They specialize in making airborne and ground-based antennas and test equipment. This divestiture is part of L3Harris’ ongoing efforts to reshape its portfolio following recent acquisitions and asset sales.
Overall, this move reflects L3Harris’ strategic shift in focus as it continues to reshape its portfolio while also highlighting Kanders & Co.’s interest in expanding its presence in the defense electronics industry. The sale of these businesses could pave the way for new opportunities and growth for both companies involved.
