American Capital released that its portfolio company Pan Am Holdings, and its subsidiaries, including Pan Am International Flight Academy, were sold to ANA Holdings, parent company of All Nippon Airways. American Capital and its affiliated funds received $94m in debt and equity proceeds and realized a gain of $12m from the transaction, subject to post-closing
Safran has reached a definitive agreement to sell Globe Motors, a US-based subsidiary of Safran, to Allied Motion on the basis of an expected enterprise value of $90m. The transaction is subject to customary closing conditions, including regulatory approvals and the successful arrangement of debt financing by Allied Motion, and is expected close in the
Finnair has resolved to issue a €150m fixed rate unsecured bond. The funds will be used for general corporate purposes. The bond matures in 5 years and pays an annual coupon of 5%. The bond offering was significantly oversubscribed and allocated to more than 100 investors. The Company will apply for the listing of the
Sparton Aydin has entered into a definitive purchase agreement to acquire certain assets and liabilities of Aydin Displays, an $18m revenue business, in an all-cash transaction. Aydin Displays, a subsidiary of Video Display Corp., located in Birdsboro, Pennsylvania, develops enhanced flat panel display and touch-screen solutions with application-critical performance criteria including ruggedization, high resolution, color
Spirit Avionics, Global Parts Support Division, based in Columbus, Ohio announced the achievement of $10m in global aircraft parts sales in less than a year achieving a 60% increase over last years sales. The Global Parts SupportDivision of Spirit Avionics distributes, sells, and brokers new, overhauled, and exchange parts and components through their extensive network
Triumph Group announced the signing of a definitive agreement to acquire General Donlee Canada, a leading manufacturer of flight critical complex machined components. Triumph will pay a total of approximately $110.0m in cash to acquire General Donlee’s outstanding equity and retire its existing debt. The transaction is subject to customary closing conditions, including the approval
B/E Aerospace (BEAV), has initiated an expansion of its Consumables Management (CM) Segment into the oil and gas services industry via the acquisition of Blue Dot Energy Services, a provider of parts distribution, rental equipment, and on-site services. The acquisition purchase price including expenses is approximately $75m. The transaction is expected to close by the
The Group posted quarterly revenue of $1.59bn, compared with the prior year revenue of $1.57bn for the same period. Revenues for the Group’s Aerospace, Electronics and Land Systems sectors at $506m, $354m and $392m respectively were comparable to 2Q2012. EBIT totalled $177.7m, an increase of 7% from $165.9m a year earlier. Group profit before tax
Israel Aerospace Industries announced on August 7th the release of its consolidated financial statements, as of June 30th, 2013. Revenues amounted to US$896m in the second quarter, up 11% compared to the corresponding quarter. Exports accounted for 76% of revenues, compared with 78% in the corresponding quarter. Revenues in the military market accounted for 75%
Spirit AeroSystems Holdings, reported second quarter 2013 financial results reflecting continued strong demand for large commercial aircraft, strong mature program operating performance, and the impact of new program charges. Spirit’s second quarter 2013 revenues were $1.521bn, up 13% from $1.341bn for the same period of 2012, driven by higher production volumes and non-production revenues. Operating
