Kirkland & Ellis is advising private equity firm TJC on a definitive agreement to purchase L3Harris Technologies’ (NYSE: LHX) Commercial Aviation Solutions business for $700 million plus a contingent earnout payment of up to $100 million based on the company’s Avionics business unit hitting performance targets in 2023 and 2024. The sale was announced November 27, 2023 and is expected to close in the first half of 2024.
The Kirkland team is being led by corporate partners Andrew Arons and Eduardo Leal and associate Spencer Hazan; technology & IP transactions partners Matt Lovell and Matt Darch; debt finance partners Jason Kanner and Andrea Weintraub and associate Raghav Gupta; tax partners Jared Rusman and Steven Ort; executive compensation partners Michael Krasnovsky and John Kleinjan; employee benefits partner Matthew Antinossi; employment & labor partners R.D. Kohut and Jackson Phinney; real estate partner Lanre Williams; environmental partner Sara Webber; and antitrust & competition partners Peter McCormack, Paula Riedel and Philipp Gnatzy.
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