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B/E Aerospace agrees acquisition of Interturbine
Posted on Monday, 25 June 2012 14:38
Florida-based aircraft interior products maker B/E Aerospace has agreed to acquire Interturbine, a German business supplying logistical services to airlines.
As part of the deal, B/E will purchase three companies: Interturbine Aviation Logistics, Interturbine Logistics Solutions and Interturbine Technologies, for around EUR 200.00 million in cash.
Commenting on the transaction, Amin Khoury, chief executive of B/E Aerospace said: “The acquisition of Interturbine doubles our consumables product portfolio, and more importantly, positions our company to offer a comprehensive range of products and services on a single-source basis to our customers globally.
“This acquisition supports our commitment to provide the best and broadest portfolio of aerospace consumables and logistics services to our customers.”
Burckhard Schneider, chief executive of Interturbine, added that he expects the deal to further his company’s development.
The transaction is subject to regulatory approvals and is expected to complete during the final quarter of this year.
Interturbine provides products including chemicals, lubricants, hydraulic fluids, adhesives, coatings and composites to customers from a network of 3,000 suppliers and according to its website, is one of the leading providers of material management logistical services to airlines and maintenance, repair and overhaul (MRO) providers.
Based in Kaltenkirchen, the business offers over 500,000 part numbers.
B/E Aerospace is headquartered in Wellington and was formed in 1987.
According to its website, the firm is the world leader in aircraft cabin interior products manufacturing, as well as aerospace fasteners and consumables distribution.
Since its foundation, the company has grown considerably following a number of acquisitions.
Most recently, it purchased Satair's original equipment manufacturing activities and TSI Group in two separate transactions during October 2010, followed by the acquisition of UFC Aerospace Corporation in January of this year.
B/E is active throughout North and South America, and has also established a presence in Europe, Asia, the Middle East and Oceania.
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