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.