Landing gear manufacturer, Héroux-Devtek, has concluded the acquisition of all the outstanding shares of Montreal-based Alta Precision Inc., a manufacturer of high-precision landing gear components. The transaction, which is subject to final purchase price adjustments, is valued at CA$23 million and was funded through the Corporation’s credit facilities.
Héroux-Devtek, with its head office in Longueuil, Québec, has 1,960 employees around the world, of which approximately 800 are located in Québec following the acquisition of Alta Precision Inc. Since its inception in 1942, Héroux-Devtek has grown from a small repair and overhaul facility to a world-class supplier of landing gear and actuation systems, delivering on major platforms such as the Boeing 777 and 777X. This acquisition, along with those of CESA, Beaver and Tekalia announced over the last year, strengthen its leadership position around the world.
