Vertex Aerospace announces acquisition
MADISON – Madison-based Vertex Aerospace has signed a definitive agreement to acquire Raytheon Technologies Corporation’s Defense Training, Professional Services, Mission Critical Solutions, and Modernization and Sustainment business lines, the company recently announced.
The Defense Training and Mission Critical Solutions business is a leading provider of training and sustainment services and products to the defense and commercial aerospace industries.
Company officials said the acquisition adds scale and diversity to the Vertex portfolio and expands the company’s service and product offerings with defense and government agencies and commercial customers, both domestic and international.
"I look forward to welcoming over two thousand talented, dedicated and highly skilled employees to our team," said Ed Boyington, Vertex president and chief executive officer. "I am certain that our combined competencies will create the most capable and accomplished team in the industry. This important acquisition significantly enhances our capabilities for new and existing customers and accelerates our strategy to deliver a more comprehensive suite of solutions to our customers globally.”
The acquired business lines making up the Defense Training and Mission Critical Solutions business currently fall into four segments: Defense Training Solutions, Commercial Training Solutions (Raytheon Professional Services), Mission Critical Solutions and Modernization & Sustainment, generating approximately $1 billion of sales in 2020, the company said in a press statement.
The transaction will close following the satisfaction of customary closing conditions, including the receipt of regulatory approvals.
Vertex, acquired by American Industrial Partners in 2018, is headquartered in Madison and employs approximately 3,500 employees, nearly 60% of which are Armed Forces veterans. The company operates in over 100 locations worldwide, providing aftermarket aerospace services for more than 2,400 fixed and rotary wing airframes. Vertex’s agility, rapid deployment and customer optimization capabilities have distinguished it from competitors for over 45 years.