June 25, 2012
B/E Aerospace to acquire aerospace logistics expert Interturbine
B/E Aerospace announced that it has signed a definitive agreement to acquire Interturbine Aviation Logistics GmbH, Interturbine Logistics Solutions GmbH, and Interturbine Technologies GmbH (collectively Interturbine), a leading provider of material management logistical services to global airlines and maintenance, repair and overhaul (MRO) providers. Interturbine is a “One Stop Source,” reducing aircraft downtime for airlines and MRO’s. Over 60% of Interturbine’s business is generated on an urgent Aircraft-on-Ground (AOG) basis, requiring response within 4 to 24 hours. “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,” said Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace. Mr. Khoury concluded, “The acquisition purchase price is approximately €200 million in cash. We expect this acquisition to be approximately neutral to 2012 and 2013 earnings, and solidly accretive to earnings beginning in 2014. The accretion to operating earnings from the Interturbine transaction in 2013 is expected to be offset by acquisition, integration and transition costs.” The transaction is subject to regulatory approval and is expected to close during the fourth quarter of 2012.