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L-3 Communications and Aerosim Technologies Acquisition

L-3 Communications Acquires Commercial Training Provider Aerosim Technologies

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New York City-headquartered L-3 Communications (NYSE:LLL) has acquired commercial training provider Aerosim, including Aerosim Technologies, Inc. (“Aerosim Technologies”) and Aerosim Flight Academy, Inc. (“Aerosim Flight Academy”) for an undisclosed sum. L-3 Communications and Aerosim Technologies completed acquisition Septmeber 30 and announced October 5.

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LONDON – Minnesota-based Aerosim Technologies and Florida-based Aerosim Flight Academy completed the deal on September 30 and announced October 5. Terms were not disclosed.

L-3 Communications and Aerosim Technologies Acquisition

Aerosim Technologies is a globally leader in commercial training with capabilities that are complementary to those offered by L-3 CTS.

According to L-3, this business will boost its existing flight training operations in Phoenix, Arizona, the UK, Thailand and New Zealand. Meanwhile, Aerosim Technologies provides innovative portable and flexible pilot and maintenance technician training products, therefore enhancing efficiency with lower-cost solutions. Aerosim Academy, a flight school for prospective airline pilots, trains both U.S. and international cadet pilots.

According to L-3, following the acquisition, the integration of Aerosim into the L-3 Commercial Training Solutions (L-3 CTS) division of the company’s Electronic Systems business segment and will change name to L-3 Aerosim-CTC.

“The addition of Aerosim is a good fit with L-3’s expanding business of providing customized solutions that address the global shortage of pilot training resources and the increasing demand for qualified pilots,” according to Michael T. Strianese, L-3’s Chairman and Chief Executive Officer. “Aerosim adds value to our portfolio and further exemplifies our disciplined growth strategy in key markets.”

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The integration of Aerosim into L-3 CTS further enhances L-3’s potential to develop innovative training, resourcing and simulation solutions. It enables L-3 CTS to provide even stronger airline pilot training capability – augmenting existing flight training operations in Phoenix, Arizona, the United Kingdom, Thailand and New Zealand.

The acquisition also provides additional training product capabilities, which aligns with and complements the existing suite of RealitySeven™ Full Flight Simulators and Flat Panel Trainers.

Strong Cultural Fit

“With its focus on the customer, quality and safety, Aerosim is a strong cultural fit with L-3 CTS and expands our capabilities to provide totally scalable training solutions,” according to Alan Crawford, President of L-3 Commercial Training Solutions. “This acquisition demonstrates our commitment to being a leading global flight training organization with an even more comprehensive suite of the highest-fidelity, cost-effective flight training devices.”

End-to-End Solution

Dave Rapley, CEO of Aerosim, added, “By joining L-3 CTS, we will reshape the future of commercial pilot and maintenance training through a shared vision and complementary capability. This collaboration presents a significant opportunity to align our advanced technologies and training excellence to offer our customers a truly integrated and end-to-end solution in the commercial aviation arena.”

State-of-the-Art

L-3 CTS includes L-3 Link UK, L-3 CTC Aviation and now L-3 Aerosim-CTC. It is a world leader in providing intelligent total training solutions for pilots and maintainers across a wide range of commercial platforms. L-3 CTS provides a full spectrum of state-of-the-art training solutions, including ab initio training, airline training, training centers and high-fidelity simulation products.

Headquartered in New York City, L-3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. L-3 is also a prime contractor in aerospace systems. The company reported 2015 sales of $10.5 billion.

What Does Aerosim Offer L-3?

L-3 CEO Michael Strianese pointed out the Aerosim acquisition represents a “good fit with L-3’s expanding business of providing customized solutions that address the global shortage of pilot training resources and the increasing demand for qualified pilots.”

Also, L-3 stated Aerosim “enhances [the company’s] potential to develop innovative training, resourcing and simulation solutions.” Aerosim will even enable L-3 CTS to provide stronger airline pilot training capability as well as additional training product capabilities that complement L-3’s full-flight simulators and flat-panel trainers, according to L-3.

L-3 CTS President Alan Crawford said the Aerosim acquisition “demonstrates [L-3’s] commitment to being a leading global flight training organization with an even more comprehensive suite of the highest-fidelity, cost-effective flight training devices,” too. As such, the Aerosim addition may help L-3 enhance its reputation in the pilot training solutions marketplace.

The Future of L-3

In 2015, L-3 recorded sales of $10.5 billion, and the Aerosim acquisition could put the company in a stronger position and hence increase its sales in 2016 and beyond.

L-3 increased its sales by 5% year to year in the second quarter of 2016, and the business’ net cash from operating activities from continuing operations rose 30% year to year in 2Q16.

Strianese stated L-3 is committed to driving “growth through organic sales and higher operating income.” He pointed out remains focused on “performance and organic growth . . . [to] continue to generate value to all of [the company’s] stakeholders” as well.

The Aerosim acquisition may help L-3 drive sales growth, particularly in the pilot training solutions market. With Aerosim’s assets at its disposal, L-3 could develop and deploy new pilot training solutions, further advance its portfolio and therefore increase its sales accordingly.

Besides The sales projection of Aerosim is approximately $50 million in sales for the year ending December 31, 2017 and to be accretive to L-3’s earnings.

Source: L-3 Communications https://www.l3t.com/

Source: L-3 Communications https://airlinepartnership.com/airline-index/l-3-communications

L-3 Communications

Aerosim Technologies is a globally leader in commercial training with capabilities that are complementary to those offered by L-3 CTS.

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Aerosim Technologies

Aerosim Technologies is a globally leader in commercial training with capabilities that are complementary to those offered by L-3 CTS.

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