Morrison Foerster advised L3Harris Technologies (L3Harris), defense contractor and information technology services provider, on government contracts aspects of the sale of its antenna and test equipment businesses for $200 million to an affiliate of Kanders & Co., a single-family office owned and controlled by industrial investor Warren B. Kanders.
The deal aligns with L3Harris’ portfolio-shaping strategy of divesting non-core assets, with transaction proceeds to be used consistent with capital allocation plans. The transaction includes $175 million in cash and a $25 million seller note. The businesses L3Harris divested were part of the company’s Space & Airborne Systems segment and employed approximately 375 people.
MoFo’s Government Contracts & Public Procurement team was led by Washington D.C. partner Damien Specht, together with partners Charles Capito, Locke Bell, James Brower, Marie-Claire Strawbridge and Felix Helmstaedter. The wider team included of counsel Fumihiko Hori, associates Nicole Giles, Caitlin Crujido, and Alexander Eisenfeld.
Read the press release.