Cobham Divests ‘Non-Core’ Rescue Beacon Business
Cobham has completed the sale of its U.S.-based rescue beacon business to J.F. Lehman & Co. for $73 million. The UK company also said it has divested its related European operation to management for a nominal sum.
The businesses–ACR Electronics and ACR Electronics Europe–design and manufacture beacons and emergency locator transmitters, with operations in Fort Lauderdale, Florida, and Vienna, Austria, respectively.
Cobham said the divestments are the most significant remaining step, following the completion of the sale of the Analytic Solutions business last November, toward achieving the divestment of all of the group’s noncore activities.