A rejuvenated Raytheon Aircraft could have new owners in the next month, according to The Wichita Eagle. The newspaper reported Friday that the Carlyle Group of Washington, D.C., Cerberus Capital Management of New York and Onex Corp of Toronto are the three finalists in the bidding contest for the planemaker, which builds Hawker and Beechcraft business jets, turboprops and piston singles and twins, as well as military trainers at its Wichita plant. A recent surge in sales, particularly on the bizjet side, has put the company in a profit position and the forecast for continued strong sales in that sector has made the company an attractive acquisition target, according to various analysts. Raytheon Co. let it be known in July that it was considering putting the aircraft division on the block, noting that its outside of its core business. Raytheon is one of the U.S.s largest defense contractors, supplying a wide range of high-tech warfare gear to military forces all over the world. It bought the airplane company from Beech in 1980.
Three Equity Firms In The Bidding For Raytheon Aircraft
Key Takeaways:
- Raytheon Aircraft, maker of Hawker and Beechcraft planes, is expected to have new owners within the next month as three finalists compete for its acquisition.
- The three bidding finalists are The Carlyle Group, Cerberus Capital Management, and Onex Corp.
- The company has become an attractive acquisition target due to recent profitability driven by a surge in sales, especially in business jets.
- Raytheon Co. is divesting the aircraft division as it falls outside its core defense contractor business.
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