Acquisition of Aerojet Rocketdyne Completed by L3Harris

The acquisition of Aerojet Rocketdyne by L3Harris has been finalized. The acquisition makes Aerojet Rocketdyne the fourth business segment at the company.

“We will expand on the strong Aerojet Rocketdyne heritage to enhance production and deliver on those expectations.”

Ross Niebergall, L3Harris

L3Harris signed a definitive agreement to purchase Aerojet Rocketdyne in December 2022, emphasizing its ability to strengthen the defense industrial base, enhance competition and accelerate innovation for a critical merchant supplier of propulsion systems.

“I’m thrilled to welcome more than 5,000 employees to the L3Harris team today,” said Christopher E. Kubasik, Chair and CEO, L3Harris. “With national security at the forefront, we’re combining our resources and expertise with Aerojet Rocketdyne’s propulsion and energetics capabilities to ensure that the Department of Defense and civil space customers can address critical mission needs globally.”

The company also announced Ross Niebergall will serve as President of the Aerojet Rocketdyne segment at L3Harris.

“Our customers demand a competitive environment that produces innovative, agile solutions,” Niebergall said. “We will expand on the strong Aerojet Rocketdyne heritage to enhance production and deliver on those expectations.”

Acquisition of Aerojet Rocketdyne Diversifies L3Harris Portfolio

The acquisition of Aerojet Rocketdyne diversifies the L3Harris portfolio, adding considerable long-cycle backlog and broad expertise that enables opportunities in missile defense systems, hypersonics and advanced rocket engines, among other areas.

Aerojet Rocketdyne will be known as Aerojet Rocketdyne, an L3Harris Technologies company.

A provider of propulsion systems and energetics to the DoD, NASA and other partners and allies worldwide, Aerojet Rocketdyne has a 100-year heritage of delivering some of the most significant moments in space exploration and discovery, while leading the industry with investments in rocket propulsion that support America’s warfighters and enhance integrated deterrence.

The cash acquisition at $58 per share is being funded with existing cash and the issuance of new debt. The transaction is valued at $4.7 billion, inclusive of net debt.

(Source: L3Harris news release and previous reporting. Images from file)