Coherent Corp. agreed to sell its Aerospace and Defense business to Advent, a private equity investor, for $400 million. This strategic divestiture aims to enhance the company's focus on core growth markets.
The proceeds from the sale will be used to reduce Coherent’s outstanding debt, and the transaction is expected to be immediately accretive to the company’s earnings per share (EPS). This move aligns with the company's ongoing portfolio optimization efforts.
The Aerospace and Defense business designs and manufactures optical and laser systems for defense applications, employing approximately 550 individuals across 10 geographic sites. This sale represents a significant step in reshaping Coherent's operational and financial structure.
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