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DTCF Completes Aerospace & Defense Carve-Out Transaction

Raytheon Company Owned Flight Options Acquired by H.I.G. Capital


Deloitte & Touche Corporate Finance LLC (DTCF) is pleased to announce its role as financial advisor to Raytheon Company (Raytheon) regarding the sale of its Cleveland, Ohio-based subsidiary, Flight Options, LLC (Flight Options), to H.I.G. Capital (H.I.G.). Terms of the deal were not disclosed.

The DTCF team assisted Raytheon throughout the various phases of the sale mandate ranging from the development of marketing materials and financial analyses through the signing and closing of the transaction. In addition, M&A Transaction Services (M&A), a member of Deloitte & Touche LLP, provided the client with seller due diligence services and assisted in the preparation of pro-forma financial information. The Deloitte subsidiaries worked together to provide the client with a seamless range of services needed to complete the transaction.

This engagement is another example of DTCF’s role as a financial advisor to a large corporate entity involving a carve-out transaction of non-core assets and also emphasizes DTCF’s ability to work to address the client’s concerns around confidentiality. The sale also highlights DTCF’s experience in the Aerospace and Defense segment.

About Raytheon, Flight Options and H.I.G. Capital
Raytheon, with over $20 billion in sales, is a world leader in the Aerospace & Defense industry providing technological capabilities in defense, homeland security, and other government markets throughout the world. With headquarters in Waltham, Massachusetts, Raytheon employs 72,000 worldwide.

Flight Options, the Cleveland, Ohio-based private jet company, operates a fleet of over 130 aircraft. Flight Options is a leading fractional aircraft provider in North America. It offers the complete spectrum of programs from Fractional First™ ownership to leasing, aircraft management, and JetPASS Ultimate Travel Membership, allowing its customers to conduct business or leisure travel.

H.I.G. is a leading global private equity investment firm with more than $4 billion of equity capital under management. Based in Miami, H.I.G. has three additional offices in the U.S., with affiliate offices in Europe. H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential and has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed more than 75 transactions.

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