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Cedar Rapids, Iowa and Wellington, Fla. – Aerospace and defense electronics company Rockwell Collins and B/E Aerospace, manufacturer of aircraft cabin interior products, have a definitive agreement under which Rockwell Collins will acquire B/E Aerospace for approximately $6.4 billion in cash and stock, plus the assumption of $1.9 billion in net debt.
The transaction combines Rockwell Collins’ capabilities in flight deck avionics, cabin electronics, mission communications, simulation and training, and information management systems with B/E Aerospace's range of cabin interior products, which include seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems for commercial airliners and business jets.
The acquisition significantly increases Rockwell Collins’ scale and diversifies its product portfolio, customer mix, and geographic presence.
Kelly Ortberg, chairman, president and chief executive officer of Rockwell Collins, said, “We see tremendous opportunity to better serve our commercial aviation, business jet, and military customers through broader offerings. B/E Aerospace has a leading position in nearly all the segments it serves and a highly visible, long-cycle backlog. Beyond new aircraft deliveries, its $12 billion installed base provides a strong flow of aftermarket retrofit opportunities that balances our current cyclical exposure to OEM production rates. Additionally, our combined portfolio uniquely positions us to integrate cabin products, smart network technologies and connectivity solutions to significantly enhance aircraft uptime and airline profitability while improving the experience of passengers and airline personnel. In addition, by leveraging our respective airline and OEM relationships, as well as Rockwell Collins’ business jet dealer network and military aircraft positions, we firmly believe there are revenue synergies that create meaningful upside to our business case.”
B/E Aerospace Founder and Chairman Amin Khoury stated, “We feel confident that this combination delivers significant long-term benefits neither company could realize on its own.”
The transaction, unanimously approved by the boards of directors of both companies, is subject to the approval of Rockwell Collins and B/E Aerospace shareowners, regulatory approvals, and other customary conditions. Upon close of the transaction, Rockwell Collins will increase the size of its board to 11 members with the addition of two B/E Aerospace board members. Werner Lieberherr, CEO of B/E Aerospace, will become Executive Vice President and Chief Operating Officer of a newly created aircraft interior systems segment for Rockwell Collins.
Source: Rockwell Collins
The transaction combines Rockwell Collins’ capabilities in flight deck avionics, cabin electronics, mission communications, simulation and training, and information management systems with B/E Aerospace's range of cabin interior products, which include seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems for commercial airliners and business jets.
The acquisition significantly increases Rockwell Collins’ scale and diversifies its product portfolio, customer mix, and geographic presence.
Kelly Ortberg, chairman, president and chief executive officer of Rockwell Collins, said, “We see tremendous opportunity to better serve our commercial aviation, business jet, and military customers through broader offerings. B/E Aerospace has a leading position in nearly all the segments it serves and a highly visible, long-cycle backlog. Beyond new aircraft deliveries, its $12 billion installed base provides a strong flow of aftermarket retrofit opportunities that balances our current cyclical exposure to OEM production rates. Additionally, our combined portfolio uniquely positions us to integrate cabin products, smart network technologies and connectivity solutions to significantly enhance aircraft uptime and airline profitability while improving the experience of passengers and airline personnel. In addition, by leveraging our respective airline and OEM relationships, as well as Rockwell Collins’ business jet dealer network and military aircraft positions, we firmly believe there are revenue synergies that create meaningful upside to our business case.”
B/E Aerospace Founder and Chairman Amin Khoury stated, “We feel confident that this combination delivers significant long-term benefits neither company could realize on its own.”
The transaction, unanimously approved by the boards of directors of both companies, is subject to the approval of Rockwell Collins and B/E Aerospace shareowners, regulatory approvals, and other customary conditions. Upon close of the transaction, Rockwell Collins will increase the size of its board to 11 members with the addition of two B/E Aerospace board members. Werner Lieberherr, CEO of B/E Aerospace, will become Executive Vice President and Chief Operating Officer of a newly created aircraft interior systems segment for Rockwell Collins.
Source: Rockwell Collins
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