Raytheon recently announced that Raytheon Company announced today that it has signed a definitive agreement to sell its wholly owned subsidiary Raytheon Aircraft Company (RAC) to GS Capital Partners, an affiliate of Goldman Sachs, and Onex Partners. RAC makes light civilian aircraft and business jets, including some specialized versions with military utility; nevertheless, the Raytheon release noted that RAC was seen as outside the firm’s desired core focus on the government and defense sector.
The firm has more than 8,500 employees and has approximately 100 authorized service centers worldwide, and will be sold for approximately $3.3 billion; expected net after-tax proceeds to Raytheon would be approximately $2.5 billion. The sale, which is subject to customary conditions and regulatory approvals, is expected to close in the first half of 2007.
Raytheon’s plans for those funds are surprisingly modest…
Comtech Mobile Datacom Corp. in Germantown, MD received a $20.1 million cost-plus-fixed-fee and firm-fixed-price contract for the continued operation of the Force XXI Battle Command Brigade and Below Blue Force Tracking Network Operations Center. Work will be performed in Germantown, MD and is expected to be complete by Dec. 31, 2007. This was a sole source contract initiated on Nov. 29, 2006 by the U.S. Army Communications-Electronics Command in Fort Monmouth, NJ (W15P7T-07-C-J408).
Rogers-Quinn (RQ) Construction, Inc. in Bonsall, CA received $19.8 million for firm-fixed-price Task Order 0008 under a previously awarded indefinite-delivery/ indefinite-quantity multiple award construction contract (N68711-02-D-8062) for design and construction of the Special Operations Force Seal Team Operations Support Facility at Naval Amphibious Base Coronado, CA. Work is expected to be complete by January 2009. The Naval Facilities Engineering Command Southwest in San Diego, CA issued the contract.