Héroux-Devtek Inc.a leading international manufacturer of aerospace products, it has completed the acquisition of Compañia Española de Sistemas Aeronáuticos, S.A. (“CESA”), a subsidiary of Airbus D&S for a purchase price of 137 million euros (approximately $206 million) enterprise value.
“We are very pleased to have completed this acquisition which is the largest in our history and represents an important milestone in our international expansion,” said Héroux-Devtek President & CEO, Gilles Labbé. “CESA will allow us to increase our market presence in Europe, gain important content on several key aircraft programs and leverage customer relationships with Airbus and other key customers. We are honoured to welcome the CESA team to the Héroux-Devtek family.”
“The acquisition also expands Héroux-Devtek’s product and service offering into the actuation and hydraulic systems and adds new technology, such as electromechanical actuation, to our portfolio. Our product mix will also evolve with 42% of revenues being generated from proprietary products,” continued Mr. Labbé. “Partnered with the complementary addition of Beaver’s expertise in ball screws, we see great opportunity to grow the business in the actuation market, which is significantly larger than the landing gear market,” he concluded.
“We look forward to continuing our close business relationship with CESA, which remains a key supplier for Airbus,” said Fernando Alonso, Head of Military Aircraft at Airbus Defence and Space. “CESA and its employees are set to benefit from the new strategic owner’s strong industrial plan over the coming years.”
