B/E Aerospace to buy Interturbine
Interturbine is being acquired by B/E Aerospace.
Interturbine is to be acquired by B/E Aerospace, with its Aviation Logistics, its Logistics Solutions and its Technology departments being purchased through this deal.
B/E Aerospace chairman and chief executive officer Amin J Khoury said the transaction will double his firm's portfolio of consumable products, while positioning the company so it can provide global customers with a "comprehensive range of products and services on a single-source basis".
This deal supports his business' aim to deliver the broadest and best array of aerospace logistics and consumables to clients, while enabling it to grow revenue in the future by focusing on "critical customer platforms", he added.
It is expected to close in the final three months of 2012 and the total cost of the acquisition is an estimated €200 million (£161 million) in cash, with it being neutral to B/E's earnings in 2012 and 2013 but improving its profits from 2014.
During the first quarter of 2012, B/E reported revenues of $747.3 million (£480.5 million), which represents a 24.5 per cent year-on-year increase.
Source: B/E Aerospace press release, June 25th
Posted by David Gleck