Belgium's Sonaca buys aerospace parts designer LMI for U.S. expansion
AEI, Aircraft Technical, Golden Gate, Liberty Hall and Platte River recently acquired aerospace industry suppliers
Sonaca Group has reached a deal to purchase LMI Aerospace Inc. (Nasdaq: LMIA), a commercial engineering service provider to the aerospace industry, for approximately $190 million in cash. The deal is expected to close in mid-2017.
LMI provides engineering services and also designs structural assemblies for the commercial, business, regional and military aerospace industries. The target manufactures more than 40,000 products for a variety of capabilities, including: metal fabrication, machining, assemblies, stretch forming, processing, kitting and distribution, composite manufacturing and testing. LMI is headquartered in St. Louis, Missouri with 21 additional locations across the U.S., Mexico, United Kingdom and Sri Lanka. Gibson, Dunn & Crutcher LLP served as legal counsel to LMI on the deal.
“The addition of LMI Aerospace to the Sonaca Group supports our vision to expand our capabilities in the United States,” states Sonaca CEO Bernard Delvaux.
Sonaca also manufactures aerospace and architectural components from its headquarters in Gosselies, Belgium. The target supplies wing parts, large sheet metal elements and engineering services for the civil, military and space markets. Sonaca has production facilities in China, Romania, Canada and Brazil.
Recent deals involving suppliers to aerospace and automobile industry include: Aircraft Technical Publishers’, backed by ParkerGale Capital LP, acquisition of CaseBank Technologies Inc.; Liberty Hall’s purchase of ZTM Inc. to integrate with its portfolio company Accurus Aerospace Corp.; Platte River Equity’s deal for airplane engine tester CTS Engines; Golden Gate Capital’s purchase of aircraft ground support equipment provider Tronair Parent Inc.; and AE Industrial’s purchase of Moeller Mfg. Co. LLC.
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