Houlihan Lokey Advises Latitude Engineering

Houlihan Lokey is pleased to announce the sale of Latitude Engineering to L3 Technologies, Inc. The transaction closed on June 28, 2018.

Latitude Engineering is a leading provider of advanced unmanned aircraft systems and platform solutions. The company’s proprietary Hybrid QuadrotorTM (HQ) technology enables vertical takeoff and landing (VTOL) of fixed-wing aircraft, providing the VTOL capabilities of a traditional quadrotor with the efficiency, speed, and range of a fixed-wing aircraft. Combining HQ technology in advanced unmanned aircraft design provides increased capability and portability and a smaller operational footprint for military and commercial unmanned aircraft applications. Utilizing HQ technology, Latitude Engineering’s HQ-55 and HQ-90 platforms have set the standard for best-in-class flight performance, endurance, and mobility. The company recently demonstrated its capabilities as a participant in the BNSF-FAA Pathfinder program, a collaborative effort between the FAA and industry to establish operational and safety practices required to integrate Beyond Visual Line of Sight (BVLOS) operations into the U.S. national airspace. Latitude Engineering was founded in 2006 and is headquartered in Tucson, Arizona.

L3 Technologies is an agile innovator and leading provider of global ISR, communications, and electronic systems for military, homeland security, and commercial aviation customers. With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems, and space. 

Houlihan Lokey served as the exclusive financial advisor to Latitude Engineering. This transaction represents Houlihan Lokey's continued global leadership and expertise in the unmanned systems market.

Houlihan Lokey's Aerospace•Defense•Government (ADG) practice is among the leading M&A advisors to aerospace, defense, government services, and homeland security companies. Since 2015, we have closed more than 60 transactions worth nearly $15 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey's ADG practice is among the largest dedicated industry banking groups worldwide.