L-3 evaluating 13 potential acquisitions

L-3 Communications has today about 13 potential acquisitions under evaluation, Chris Kubasik, the contractor's chief operating officer, said Wednesday.

Speaking at the Citi Industrials conference, Kubasik said the 13 companies vary "in size from $30 million up to $300 million across all the markets."

While he acknowledged L-3 wouldn't purchase them all, he said one to three "may actually make it through the process."

L-3 has been reshaping its business as it seeks a return to growth. In 2012, the company spun off much of its services work into a company now known as Engility, and early this year, L-3 sold much of its remaining services work to CACI International. Link 174335

Speaking to analysts today, Kubasik said the company is working to reinvingorate business units in which it sees potential. He said the company made the decision to retain L-3's Vertex Aerospace unit.

"A lot of people thought that was on the market, which it wasn't," he added. "We have the ability and talent in the company to fix good businesses that had underperformance."

For more on L-3's reshaping, check out our most recent story on the company.