Three Equity Firms In The Bidding For Raytheon Aircraft
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 it’s 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.