South Florida Aviation Company Sold To Iowa Firm For $8.6B
Wellington-based B/E Aerospace, an aircraft cabin interior products and services manufacturer, has sold to Rockwell Colllins of Cedar Rapids, Iowa for $8.6 billion.
B/E said it will close its South Florida headquarters at the close of the acquisition. The number of employees affected was not immediately available.
B/E Aerospace was among South Florida‘s top public companies with $2.7 billion in revenue in 2015.
Effective immediately, B/E Aerospace is rebranded as Rockwell Collins. Werner Lieberherr, former B/E Aerospace president and chief executive officer, is now executive VP and COO of Rockwell Collins’ newly created interior systems business. He will report to Kelly Ortberg, chairman, president and chief executive officer of Rockwell Collins.
With the acquisition, Rockwell Collins now has about 30,000 employees and annual revenue of more than $8 billion based on calendar year 2016 results.
The acquisition also expands the Iowa-based company’s portfolio with a wide range of cabin interior products for commercial aircraft and business jets including seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems.
“Today marks a major step in advancing our vision of being the most trusted source of aviation and high-integrity solutions in the world,” Ortberg said. “The industry-leading products and solutions being brought together by this acquisition give us a much broader offering, increasing value for our customers and ultimately driving long-term, profitable growth and shareowner value.”
Leave a ReplyWant to join the discussion?
Feel free to contribute!