MonTREAL — Canadian aerospace manufacturer Heroux-Devtek has acquired the British landing-gear company APPH from BBA Aviation PLC for $128 million.
The Montreal-area company says APPH will expand its manufacturing reach in Europe, diversify its customer base and give it a greater presence in the lucrative repair and replacement-part business.
The acquisition of APPH brings significant and immediate strategic benefits to Heroux-Devtek, while strengthening its global competitive position and status as a leading landing gear system provider for aircraft weighing less than 100,000 pounds, Gilles Labbe, Heroux-Devteks president and chief executive officer said Monday.
based in Longueil, Que., Heroux-Devtek is acquiring four plants in the United Kingdom and one in Wichita, Kansas. The APPH plants have a combined workforce of about 400 employees.
APPH specializes in the design, engineering and manufacturing of landing gear, hydraulic systems and assemblies for military and civilian aircraft.
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APPH expands our geographical footprint into the European market, provides us with significant content on several leading programs, further increases and diversifies our customer base, and provides greater exposure to the attractive aftermarket business. Labbe said.
This acquisition will be accretive to earnings and will provide attractive synergy opportunities, thus building further value for our shareholders.
The company scheduled a conference call with analysts to discuss the deal later in the morning.