B/E Aerospace Agrees To Acquire Two Aerospace Manufacturing Businesses
B/E Aerospace, Inc. (Nasdaq:BEAV), the world’s leading manufacturer of
aircraft cabin interior products and the world’s leading provider of
aerospace fasteners, consumables and logistics services, today announced...
B/E Aerospace, Inc. (Nasdaq:BEAV), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading provider of aerospace fasteners, consumables and logistics services, today announced that it has signed a definitive agreement to acquire EMTEQ, Inc., a provider of aircraft interior and exterior lighting systems, as well as aircraft cabin management and power systems. The Company also announced today that it has signed a definitive agreement to acquire F+E Fischer + Entwicklungen GmbH & Co. KG (Fischer) the leading manufacturer of seating products for civilian helicopters. Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace said, “Demand for comprehensive and integrated solutions for power management, lighting and connectivity within the aircraft cabin is growing, and the acquisition of EMTEQ will enable us to offer more comprehensive solutions. Customers value the ability to partner with a company that can deliver turn-key solutions.” “The combination of our lighting and power management systems business with EMTEQ’s highly complementary lighting, cabin management and power systems businesses, as well as their electrical and connectivity expertise, will allow us to expand our product and service offerings in the commercial airliner and business jet markets. This acquisition will allow B/E Aerospace to provide complete aircraft lighting and engineering integration solutions, allowing technology crossover and additional product and service offerings in numerous aircraft platforms. We also expect significant product development, manufacturing and operational synergies.” Mr. Khoury, continued, “We are pleased to add Fischer helicopter seating to our seating portfolio. Fischer is the leading global supplier of crashworthy civilian crew and passenger seats to helicopter OEMs. Fischer has significant intellectual property (IP), including a patent protected seat security system which has minimum space requirements and is extremely light and flexible. We expect to realize substantial engineering, manufacturing and marketing synergies from the transaction.” The EMTEQ and Fischer transactions are the two aerospace acquisition prospects which were referenced in the Company’s April 23, 2014 press release.