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Cobham sells special mission business unit.

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Cobham sells special mission business unit.

Old 3rd Aug 2022, 00:24
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Cobham sells special mission business unit.

Cobham Aviation Australia to sell its special mission business. SAR work and Coastwatch.

https://www.leidos.com/insights/leid...ssion-business

(MELBOURNE, Australia, and RESTON, Va.) August 2, 2022 -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, announced it has entered into a definitive agreement with Cobham Limited to acquire Cobham Aviation Services Australia’s Special Mission business. The Special Mission business provides airborne border surveillance and search and rescue services to the Australian Federal Government. The acquisition is subject to customary closing conditions, including regulatory approvals.“Cobham’s Special Mission team conducts essential operations that protect Australia’s borders, support law enforcement and environmental protection and save lives,” said Leidos Chairman and CEO Roger Krone. “The integration of Special Mission into Leidos Australia will expand the scope of our global airborne ISR capabilities, diversify revenues, and open up new growth avenues.”

“I have the greatest respect and admiration for Cobham’s Special Mission team and their performance in service to the Government,” said Leidos Australia Chief Executive Paul Chase. “The addition of the Special Mission business will bring new, expansive services to our offerings across Australia. I look forward to working with this exceptional team.”

“This is a perfect match,” said Cobham Aviation Services Chairman Kim Gillis. “Leidos has remarkably complementary operations to Cobham Special Mission in airborne ISR, as well as deep platform integration expertise, and both organisations uphold exceptional track records of delivering mission critical services to government and defence customers.”

“I’d like to recognise and thank all of the Special Mission team for their continued dedication and commitment to delivering operational outcomes for our customers,” Managing Director of Special Mission James Woodhams said. “I’m really excited about what the future holds for the team as part of Leidos.”

Cobham Special Mission owns and operates 14 modified aircraft to deliver critical services across Australia, including:
  • Conducting one of the world’s largest outsourced civil maritime surveillance operations under contract with the Australian Border Force, patrolling Australia’s 8.2 million square kilometre Exclusive Economic Zone;
  • Providing fixed wing search-and-rescue response capability over land and sea on behalf of the Australian Maritime Safety Authority (AMSA); and
  • Operating a highly specialised mission aircrew training system for more than 30 mission aircrew per year.
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Old 3rd Aug 2022, 04:09
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Seems to me that with this sale and the recent sale of the FIFO business to Rex, Cobham are exiting the Australian aviation scene
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Old 3rd Aug 2022, 05:52
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That was always the plan once Cobham was acquired by a US private equity firm back in 2020. They want to hold the defence businesses and tried once before to sell the whole operation, and now have succeeded by splitting them up. The Special Mission unit was always going to go to someone looking to get a foothold in the Australian defence/parapublic sector with plans to grow it from there.
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Old 3rd Aug 2022, 05:52
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Originally Posted by Alice Kiwican View Post
Seems to me that with this sale and the recent sale of the FIFO business to Rex, Cobham are exiting the Australian aviation scene
Advent International bought Cobham plc (the UK parent company) a few years ago, and the intention for the Australian business units was always to split them up and sell them off. The sale of Special Mission is purely the third and final step in the process, after the NJE sale to Rex and NJS going to QF a couple of years ago.

Originally Posted by ebt View Post
That was always the plan once Cobham was acquired by a US private equity firm back in 2020.
​​​​​​​Great minds!
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