Aerojet Rocketdyne Acquires Coleman Aerospace, Expands into Target Missile Vehicle Business
Aerojet Rocketdyne announced that it has signed a definitive agreement to purchase Coleman Aerospace from L3 Technologies for $15 million in cash, subject to customary adjustments. The transaction is expected to close by the end of this month. Coleman Aerospace will operate as a subsidiary of Aerojet Rocketdyne and will be renamed Aerojet Rocketdyne Coleman Aerospace.
Coleman is a systems engineering and integration provider. Both a prime contractor and subcontractor, the company provides a variety of suborbital launch vehicles, payloads, and launch services. Coleman develops and integrates air- and ground-launched ballistic missile targets and mission planning for the U.S. Missile Defense Agency, and hypersonic testing for the U.S. Air Force Research Laboratory.
The acquisition builds upon and expands Aerojet Rocketdyne’s capabilities in mission analysis and systems engineering, and increases its product portfolio to include vehicle integration for small-, medium- and intermediate-range ballistic missile targets and other small launch vehicles. The Coleman business is expected to generate approximately $40 million in revenue in 2017.
Coleman will operate at its existing location in Orlando, Florida, and will assume the new space coast integration and test facility lease at Cape Canaveral Air Force Station in the state. A ribbon cutting ceremony to officially open the space coast facility is planned for Friday, Feb. 24.