AE Industrial completed the acquisition of a majority stake in space propulsion and power systems business of L3Harris Technologies at a $845m valuation.

AE Industrial, a private investment firm, completed the acquisition of a majority stake in the space propulsion and power systems business of L3Harris Technologies, an American technology company, defense contractor and information technology services provider that produces C6ISR systems and products, at a $845m valuation. “Rocketdyne is more than just a company, it is the birthplace of U.S. rocket propulsion. This transaction will not only modernize and give new life to a pioneer of space and national defense technology, but it will also create a new hybrid model of agile collaboration, combining the stability and power of a national defense prime with the innovation of a specialized investor. By taking the historic engine – the RL10 – and applying modern manufacturing discipline, we will honor its design while revolutionizing the production line,” Kirk Konert, AE Industrial Managing Partner.