B/E Aerospace has signed a definitive agreement to acquire EMTEQ, a provider of aircraft interior and exterior lighting systems, as well as aircraft cabin management and power systems.
Amin J. Khoury, chairman and CEO of B/E Aerospace, explained the purchase: “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. 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.”
B/E Aerospace has also signed an agreement to acquire F+E Fischer + Entwicklungen GmbH & Co. KG (Fischer), a leading manufacturer of seating products for civilian helicopters. Khoury stated that, “Fischer has significant intellectual property, including a patent protected seat security system which has minimum space requirements and is extremely light and flexible. We expect to realise substantial engineering, manufacturing and marketing synergies from the transaction.”
The total acquisition purchase price for both companies is approximately US$470 million. The EMTEQ transaction is expected to close during June, while the Fischer transaction is expected to close around the beginning of the third quarter of 2014, subject to regulatory approvals.