Advent to acquire the aerospace and defense business of Coherent for $400m.

Advent, a private equity firm, agreed to acquire the aerospace and defense business of Coherent, a company that develops, manufactures, and supports laser equipment and related specialty components, for $400m. “We are pleased to have reached this agreement with Advent. As part of our strategic portfolio optimization process, this transaction furthers our strategy to concentrate efforts on core growth markets and products,” Jim Anderson, Coherent CEO.