Newsletter Subscription


Wednesday, Oct 22, 2014


B/E Aerospace to Acquire Satair's Aerospace Fastener Distribution Business in $162 M Transaction

Wellington, Fla. - B/E Aerospace (Nasdaq:BEAV), the world's leading manufacturer of aircraft cabin interior products and the world's leading distributor of aerospace fasteners and consumables, today announced that it has signed a definitive agreement with Satair A/S to acquire Satair's aerospace fastener distribution business, a market leader in the distribution of consumables to European and Asia Pacific aerospace manufacturers and their suppliers. The acquisition complements and expands B/E Aerospace's current broad consumables product offerings to include metric fasteners, adhesive fasteners, latches, cables, struts, tooling and lighting products.

"By combining Satair's fastener distribution business with our existing European distribution and supply chain management operations, we will create a more robust and evenly balanced footprint in both Europe and Asia. Satair's business is highly complementary to ours and we believe that both the customer and supply base will enthusiastically support the joining of two strongly customer focused suppliers and the opportunity to one-stop shop with a company better able to support their requirements through a substantially broader product and services offering, enhanced global footprint and a history of outstanding customer service," said Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace.

Related Research on ASDReports.com:
Global Military Aviation MRO Market 2014-2024

Mr. Khoury concluded, "The Satair aerospace fastener distribution business acquisition substantially expands the B/E Aerospace customer base in the European and Asia Pacific regions and also expands our product offerings. This business has an excellent OEM-oriented customer base and is highly complementary to our consumables management segment."

The transaction is expected to close in the fourth quarter of 2010. The purchase price of approximately $162 million in cash represents a multiple of approximately 1.5 times expected 2010 revenues and approximately 10 times estimated 2010 earnings before interest, taxes, depreciation and amortization. The acquisition is expected to be neutral to B/E Aerospace 2011 net earnings, and accretive to net earnings thereafter. Through expected efficiency improvement initiatives the company expects to be able to deliver margins in this business approximately equal to the margins which the company currently generates in its consumables management segment; much as the company has done subsequent to both the New York Fasteners and Honeywell HCS acquisitions.

Source : B/E Aerospace Inc.

Published on ASDNews: Oct 25, 2010

 

Engine Leasing & Asset Management Seminar

Oct 29, 2014 - London, United Kingdom

Register More info


© 2004-2014 • ASDNews • be the first to know • contact usterms & conditionsprivacy policyadvertisingfaqs