5th of February 2007
BBA Aviation acquires Commercial Aircraft Products
BBA Aviation today announces the acquisition of Commercial Aircraft Products LLC (CAP) for an initial payment of $5.7m with further payments of up to $3.3m,subject to business performance over a 4-year period.
CAP, based in Wichita Kansas, specialises in the design and manufacture of Hydraulic System Components, Electro Mechanical Positioning systems and Access Mechanisms used on a wide range of Business Aviation aircraft and Light Jet programmes. CAP’s proprietary products are approved and used by Cessna, Raytheon, Bombardier and Adams on both mature and embryonic platforms.
The CAP acquisition will be integrated into the US operations of BBA Aviation’s Landing Gear and Hydraulic systems company, APPH. The business has a turnover of circa $5m and the acquisition is expected to be earnings enhancing in the first year.
Commenting on the transaction Michael Harper, Executive Chairman of BBA Aviation said,
“I am very pleased to announce the acquisition of CAP. Alongside the recently announced Eurocopter contract it is another important step in increasing BBA Aviation’s presence in the global aviation hydraulic systems market. The acquisition further expands APPH’s customer base and increases our footprint in Wichita - a key business aviation location.”
Enquiries:
BBA Aviation plc
Michael Harper – Executive Chairman
Andrew Wood – Finance Director
020 7514 3999
Brunswick Group LLP
Lucie Anne Brailsford / Jemma Hill
020 7404 5959
2005
Preliminary Results Presentation, 28th February 2006