B/E Aerospace, 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 initiated an expansion of its Consumables Management (CM) Segment into the oil and gas services industry via the acquisition of Blue Dot Energy Services, LLC, a provider of parts distribution, rental equipment, and on-site services.
Amin J. Khoury, Founder, Chairman and Chief Executive Officer of B/E Aerospace stated, “B/E Aerospace plans to provide high quality products and services (new and remanufactured after use, and API certified) to remote drilling sites, using its manufacturing, certification, IT, and logistics capabilities to properly prepare for deployment, store, locate, and deliver, as needed equipment and services.”
The acquisition purchase price including expenses is approximately $75 million. The transaction is expected to close by the end of August 2013 and is expected to be accretive to 2014 earnings per share.
Source: B/E Aerospace, Inc.
Date: Aug 14, 2013