Raytheon Considers $1 Billion Sale of Services Unit
(Bloomberg) -- Raytheon Technologies Corp., one of the world's largest aerospace and defense companies, is considering a $1 billion sale of a services unit, according to people familiar with the matter.
The company is working with an adviser to look at strategic options for the unit, including a sale, said the people, who asked not to be identified because they weren't authorized to speak publicly.
The unit, which provides training for the repair and maintenance of equipment, vehicles and machinery, is likely to interest private equity firms, the people said. A final decision on pursuing a sale hasn't been made and Raytheon could elect to keep the business, the people said.
A spokesperson for Raytheon, based in Waltham, Massachusetts, declined to comment.
Raytheon has been making divestitures following its all stock merger with United Technologies Corp. that created a business valued at about $130 billion last April. BAE Systems Plc agreed to buy the company's military global positioning system business for $1.9 billion and its airborne tactical radios business for $275 million.
Raytheon, which began as a refrigeration company in 1922, is now centered around four divisions: Collins Aerospace; engine maker Pratt and Whitney; sensors; and defense, according to its website.
©2021 Bloomberg L.P.
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