L3Harris sells majority stake in commercial space propulsion, power and electronics units to AE Industrial Partners

Melbourne, Fla. — L3Harris Technologies has completed the sale of a majority stake in its commercial space propulsion, power and electronics businesses to AE Industrial Partners, assigning the assets a total enterprise value of $845 million.

The company said it plans to direct proceeds toward investments in facilities and advanced technologies to address what it described as unprecedented growth demand.

L3Harris’ RS-25 rocket engine operations were not included in the transaction.

As part of the deal structure, L3Harris will retain an approximately 40% ownership interest in AE Industrial Partners’ new space technologies business, which will be called Rocketdyne.