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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 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.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve risks and uncertainties. The Company’s actual experience and results may differ materially from the experience and results anticipated in such statements. Factors that might cause such a difference include those discussed in the Company’s filings with the Securities and Exchange Commission (SEC), which include its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. For more information, see the section entitled "Forward-Looking Statements" contained in the Company’s Annual Report on Form 10-K and in other filings. The forward-looking statements included in this news release are made only as of the date of this news release and, except as required by federal securities laws and rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.