Goodrich Corporation has completed the acquisition of Microtecnica S.r.l. Microtecnica is a leading provider of flight control actuation systems for helicopter, regional and business aircraft, missile actuation, and aircraft thermal and environmental control systems. Total cash consideration for the acquisition was approximately 331 million Euros ($478 million at an exchange rate of 1.44). Goodrich had announced its intentions to acquire Microtecnica from Stirling Square Capital Partners on April 1, 2011.
Microtecnica employs approximately 700 people at facilities located in Turin, Luserna San Giovanni and Brugherio, Italy and Bristol, UK. Major customers include AgustaWestland, Alenia, Hamilton Sundstrand, Avio, Bombardier and Eurocopter. Microtecnica will become part of Goodrich’s Actuation Systems business, within its Actuation and Landing Systems segment.