US-based firm L3 Technologies has signed a definitive agreement to sell its Vertex Aerospace business to American Industrial Partners for $540m.

L3 will also sell its Crestview Aerospace and TCS business units, which are part of L3’s Aerospace Systems business unit.

Subject to customary closing conditions and regulatory approvals, the deal is scheduled to be closed this year.

L3 Technologies CEO and president Christopher Kubasik said: “This is a strategic step towards optimising L3’s portfolio.

“Vertex Aerospace primarily provides aviation logistics services and supply chain management, as well as maintenance, repair and overhaul services.”

“We will use the proceeds from the sale to invest in the continued growth of L3, consistent with our capital allocation strategy and plans.”

Vertex Aerospace primarily provides aviation logistics services and supply chain management, as well as maintenance, repair and overhaul services.

Crestview Aerospace manufactures and assembles specific rotary aircraft components, while TCS offers select engineering services and logistics support.

Last year, Crestview Aerospace and TCS reported $115m total net sales, which were included in the Aerospace Systems segment results.

Employing more than 31,000 people worldwide, L3 currently provides various communication, electronic and sensor systems for use in military, homeland security and commercial applications.

L3 also provides aerospace, security and detection systems, as well as pilot training.

In October 2016, the company announced the acquisition of US-based pilot and maintenance technician training provider Aerosim for an undisclosed sum.

The acquisition also included Aerosim Technologies and Aerosim Flight Academy.