B/E Aerospace agrees to buy EMTEQ, Fischer for $470M

Wellington, Florida – Aircraft cabin interiors company B/E Aerospace Inc. 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 CEO of B/E Aerospace says, “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,” Khoury adds. “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.” ?

The total acquisition purchase price for both companies is approximately $470 million. EMTEQ and Fischer combined had latest 12 months ended March 31, 2014, revenues of approximately $150 million. The EMTEQ transaction is expected to close in June, while the Fischer transaction is expected to close around the beginning of the third quarter of 2014, subject to regulatory approvals. ?

Source: B/E Aerospace Inc. ?