Alston & Bird client Florida Turbine Technologies, Inc. and FTT Core, LLC has sold a majority interest to Kratos Defense & Security Solutions, Inc., a leading national security solutions provider.
Under the terms of the deal, Kratos paid $60 million in cash and stock for an 80.1 percent stake in FTT, a leader in turbine engine innovation, with the option to acquire the remaining 19.9 percent in the future.
This is the latest in a string of aerospace and defense transactions Alston & Bird has advised on in the past year. Previous deals the firm has acted on in the industry during that time include Mastodon Design’s acquisition by CACI International, STS Aviation Group’s majority interest sale to Greenbriar Equity Group, LinQuest Corporation’s purchase by Madison Dearborn Partners and CoVant Management, Seemann Composites’ acquisition of Materials Sciences Corporation, and KLX’s sale to Boeing.
Advising FTT was an Alston & Bird team led by partner Jeremy Silverman, counsel Alison LeVasseur, senior associate Daniel Nisenson, and associates Matt Strumph and Katie Wroten (Corporate & Business Transactions), partner Jeniffer De Jesus Roberts and senior associate Katherine Veeder (Government Contracts), partner Mike Stevens (Employee Benefits & Executive Compensation), partner Scott Harty and senior associate Danny Reach (Federal & International Tax), partner Chris Gegg (Intellectual Property), partner Justin Howard (Mergers & Acquisitions), and counsel Helen Christakos (Technology, Privacy & Data Security).