Rockwell Collins completes acquisition of B/E Aerospace
Rockwell Collins Inc completed (13-Apr-2017) the acquisition of B/E Aerospace for USD8.6 billion in total consideration, including debt assumed. Rockwell Collins now has nearly 30,000 employees and pro forma annual revenue in excess of USD8 billion based on 2016 results. Effective immediately, B/E Aerospace is rebranded Rockwell Collins. Werner Lieberherr, former B/E Aerospace president and CEO, now becomes executive VP and COO of Rockwell Collins' newly created Interior Systems business. With the acquisition, Rockwell Collins expands its portfolio with a wide range of cabin interior products for commercial aircraft and business jets including seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems. The transaction is expected to generate run-rate pre-tax cost synergies of approximately USD160 million (USD125 million after tax). The company expects to achieve 90% of the cost synergies by the end of its FY2019. The transaction is expected to be double-digit accretive to GAAP earnings per share in FY2018. [more - original PR]