L-3 Communications recently acquired 10 business units from Lockheed Martin in a deal worth $525million.
Included in the purchase was Florida-based Aviation Recorders, the exclusive supplier of Fairchild 'black boxes'.
L-3 Communications supplies sophisticated secure communication systems and specialised communication products.
It's an independent company, owned jointly by Lehman Brothers Capital Partners III, LP, Lockheed Martin and the company's management team.
Chairman and chief executive officer Frank Lanza says: "L-3 Communications is well positioned to be the premier merchant supplier, serving all of the aerospace primes, the Department of Defence and commercial customers with leading communications products and systems.
"Massive consolidation among top-tier defence contractors has created opportunities for middle tier companies like L-3 Communications."
Source: Flight Daily News