Rockwell Collins, Inc. (NYSE: COL) today announced it has successfully completed the acquisition of B/E Aerospace, a leading manufacturer of aircraft cabin interior products and services, for $8.6 billion in total consideration, including debt assumed. Rockwell Collins now has nearly 30,000 employees and pro forma annual revenue in excess of $8 billion based on calendar year 2016 results.
Effective immediately, B/E Aerospace is rebranded Rockwell Collins. Werner Lieberherr, former B/E Aerospace president and chief executive officer, now becomes executive vice president and chief operating officer of Rockwell Collins’ newly created Interior Systems business. He reports to Kelly Ortberg, chairman, president and chief executive officer of Rockwell Collins.
With the acquisition, Rockwell Collins expands its portfolio with a wide range of cabin interior products for commercial aircraft and business jets including seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems. This advances the company’s global growth strategy by expanding its previous focus on cockpit, cabin management, communication and connectivity solutions, and diversifies its product portfolio and customer mix.
“Today marks a major step in advancing our vision of being the most trusted source of aviation and high-integrity solutions in the world,” said Ortberg. “The industry-leading products and solutions being brought together by this acquisition give us a much broader offering, increasing value for our customers and ultimately driving long-term, profitable growth and shareowner value.”
“The many common values we share—from innovation and uncompromising quality and performance to outstanding customer relationships—position us well for a successful integration and make us stronger as we move forward together,” added Lieberherr. “Joining the Rockwell Collins family and its forward-thinking approach to the market sets us on an exciting path that will greatly benefit our customers, employees and shareowners.”
Source: Rockwell Collins
Date: Apr 14, 2017