Melbourne-based L3Harris acquired the vast rocket engine company Aerojet Rocketdyne in 2023, but on Monday announced it was selling a controlling interest in the majority of those operations to private investment firm AE Industrial Partners.<\/p>\n
The Boca Raton-based company plans to revive the Rocketdyne name for the business \u201cin recognition of its heritage and longstanding innovation within space propulsion technology,\u201d according to a press release.<\/p>\n
The deal calls for it to acquire a 60% controlling interest in L3Harris\u2019 Space Propulsion and Power Systems at a value of $845 million. L3Harris Technologies will retain a 40% minority share.<\/p>\n
The transaction is not expected to close until the second half of 2026, and is subject to regulatory approval.<\/p>\n
A big portion of the deal is the RL-10 manufacturing facilities located in Palm Beach County. The RL-10 engines have been used for 60 years, including for the upper stages of United Launch Alliance\u2019s Vulcan and remaining Atlas V rockets.<\/p>\n
\u201cRocketdyne is more than just a company, it is the birthplace of U.S. rocket propulsion,\u201d said Kirk Konert, managing partner at AE Industrial. \u201cThis transaction will not only modernize and give new life to a pioneer of space and national defense technology, but it will also create a new hybrid model of agile collaboration, combining the stability and power of a national defense prime with the innovation of a specialized investor.\u201d<\/p>\n
The firm states it is focused on technologies and services considered critical to both aerospace and national and economic security<\/p>\n
\u201cBy taking the historic engine \u2013 the RL-10 \u2013 and applying modern manufacturing discipline, we will honor its design while revolutionizing the production line,\u201d Konert said.<\/p>\n
The RL-10 facilities are a big part of five manufacturing locations across the U.S. responsible for not only the upper stage engines, but also in-space propulsion, nuclear power and avionics.<\/p>\n
Not part of the deal are the RS-25 engines, which were built for the Space Shuttle Program but are now used on NASA\u2019s Space Launch System\u2019s core stage for the Artemis missions.<\/p>\n
However, single RL-10 engines are still used on the SLS\u2019s Interim Cryogenic Propulsion Stage, which flew on Artemis I and will be used on both Artemis II and III. Future Artemis missions could potentially use the larger Exploration Upper State that would require four RL-10 engines.<\/p>\n
\u201cL3Harris is strongly committed to the Department of War\u2019s vision for a faster, more agile defense industrial base while remaining laser-focused on driving value for our shareholders and customers,\u201d said L3Harris Chairman and CEO Christopher Kubasik in a press release. \u201cThis transaction further aligns the L3Harris portfolio with DoW core mission priorities.\u201d<\/p>\n