L3Harris lines up family office to acquire antenna business

L3Harris Technologies has agreed to sell its antenna and test equipment businesses for $200 million to Kanders & Co., a single-family office owned and controlled by industrial investor Warren B. Kanders.

The transaction price comprises $175 million in cash and a seller note valued at $25 million, L3Harris said Friday. All parties involved expect to close the move during this calendar quarter.

Kanders & Co. is using the businesses it is acquiring to stand up Fisica, a new defense electronics company that will act as a supplier to both larger prime contractors and Defense Department agencies.

"As the electronic warfare and communications space continues to evolve, we believe Fisica's product portfolio, long-standing customer relationships and stable program base position the combined businesses to grow both organically and through targeted acquisitions," Warren B. Kanders said in a release.

The businesses being divested employ about 375 people and are currently a part of L3Harris' space and airborne systems segment. Those businesses make airborne and ground-based antennas and test equipment.

For L3Harris, this divestiture is the newest in a series of continuous moves to reshape its portfolio. L3Harris completed its acquisitions of Aerojet Rocketdyne and a secure data product business from Viasat in 2023, and lined up buyers for several other assets along the way.