Noida, India – HCL Technologies (HCL), a global IT services provider, has acquired Butler America Aerospace LLC, a provider of engineering, design services, and aftermarket engineering services to U.S. aerospace and defense customers. Butler Aerospace is a wholly owned subsidiary of Butler America LLC. The proposed acquisition will exclude the staffing business of Butler America Inc.
Butler Aerospace provides engineering & design services in the areas of mechanical and structural design, system safety, manufacturing, testing, composites, aircraft certification, electrical design, tool design, information technology, and aftermarket engineering services including training, documentation, and MRO support.
With more than 900 highly skilled engineers and 7 design centers in the U.S., Butler Aerospace has a marquee list of clients in the aerospace & defense industries and works with OEMs and their suppliers. The acquisition will bolster HCL’s capabilities in this space and access to clients with large R&D spends.
The consideration for the proposed transaction is $85.0 million to be paid in cash. Butler Aerospace had revenues of $85.4 million for the year ending Dec. 31, 2015 at EBIT of 12.2%.
The acquisition is subject to regulatory approvals, along with other customary closing conditions. It is expected to be completed by Dec. 31, 2016.
HCL Technologies, along with its subsidiaries, now operates in 32 countries and has consolidated revenues of $ 6.6 billion for the 12 months ended Sept. 30, 2016.
Source: HCL Technologies Ltd.
Butler Aerospace provides engineering & design services in the areas of mechanical and structural design, system safety, manufacturing, testing, composites, aircraft certification, electrical design, tool design, information technology, and aftermarket engineering services including training, documentation, and MRO support.
With more than 900 highly skilled engineers and 7 design centers in the U.S., Butler Aerospace has a marquee list of clients in the aerospace & defense industries and works with OEMs and their suppliers. The acquisition will bolster HCL’s capabilities in this space and access to clients with large R&D spends.
The consideration for the proposed transaction is $85.0 million to be paid in cash. Butler Aerospace had revenues of $85.4 million for the year ending Dec. 31, 2015 at EBIT of 12.2%.
The acquisition is subject to regulatory approvals, along with other customary closing conditions. It is expected to be completed by Dec. 31, 2016.
HCL Technologies, along with its subsidiaries, now operates in 32 countries and has consolidated revenues of $ 6.6 billion for the 12 months ended Sept. 30, 2016.
Source: HCL Technologies Ltd.
Latest from Aerospace Manufacturing and Design
- AviLease orders up to 30 Boeing 737 MAX jets
- 256-piece general maintenance tool kit
- JetZero all-wing airplane demonstrator achieves milestones
- Cermet indexable inserts for medium turning operations
- Trelleborg acquires Aero-Plastics
- Industrial automation products, enclosed encoders
- #61 - Manufacturing Matters: CMMC roll out: When do I need to comply?
- AIX shows aircraft interiors are a strategic priority for global airlines
