January 2, 2015
Astronics to acquire Armstrong Aerospace
Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, has entered into a definitive agreement to acquire Armstrong Aerospace (“Armstrong”) for approximately US$51m. The agreement is expected to close in January 2015, subject to normal closing requirements. Armstrong Aerospace, located in Itasca, Illinois, is a leading provider of engineering, design and certification solutions for commercial aircraft, specializing in connectivity, in-flight entertainment, and electrical power systems. Armstrong sales for 2014 are expected to be approximately US$27m. Peter J. Gundermann, CEO of Astronics, commented, “I am pleased to include Armstrong in the expanding range of capabilities that Astronics has to offer, specifically in the connectivity and power niche for commercial airlines. Armstrong has a strong entrepreneurial spirit, advanced engineering proficiency and significant experience in providing certifications for OEMs, integrators and airlines. And, like us, they have a solid history of strong growth.” With this acquisition, Astronics now expects 2015 revenue will be between US$680m to US$725m.