Vertex Aerospace, LLC agreed to acquire Defense Training and Mission Critical Solutions from Raytheon Technologies Corporation (NYSE:RTX) on September 10, 2021. The acquired business lines making up the Defense Training and Mission Critical Solutions business currently fall into four segments: Defense Training Solutions, Commercial Training Solutions (Raytheon Professional Services), Mission Critical Solutions and Modernization & Sustainment, generating approximately $1 billion of sales in 2020. The transaction will close following the satisfaction of customary closing conditions, including the receipt of regulatory approvals. RBC Capital Markets and Morgan Stanley & Co.

LLC are acting as financial advisors; Justin A. Macke and Daniel J. Michaels of Jones Day and Ropes & Gray are acting as legal advisors and Baker Botts as regulatory counsel to Vertex and AIP.  Evercore Inc. is acting as financial advisor and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Raytheon Technologies.