Private Equity Firm Buys Into Historic Rocketdyne Business
L3Harris Technologies is selling a majority stake in its civilian space propulsion unit to private equity firm AE Industrial Partners for $845 million. The company will retain a 40% share of the business unit, which focuses on technologies related to NASA and civil space activities. The sale excludes the RS-25 rocket engine business, which is the primary propulsion system on NASA’s Space Launch System. The new entity will be named Rocketdyne, in recognition of its heritage and innovation in space propulsion technology. According to Breaking Defense, the transaction aligns L3Harris’ portfolio with the Department of War’s vision for a faster and more agile defense industrial base.