Esterline is significantly expanding the scale of its aerospace operations with the multi-million-dollar acquisition of Leach Holding.
The acquisition - pegged at about $145 million - is the largest in Esterline's history and is thought to add 20% to the company's $600 million annual revenue base.
The transaction fits the strategy of Esterline (Hall 1, B10) to consolidate manufacturers of superior aerospace components. It is the leading producer of Boeing Commercial Aircraft's lighted switches and about half of all Airbus's new production lighted switches.
Wth last year's acquisition of Farnborough-based Weston Aerospace, it is arguably the second largest supplier of aerospace sensors in the world.
Esterline chief executive Robert Cremin says: "The size, synergy and financials make Leach a perfect fit for Esterline. It's the latest step in the company's drive to expand the toolbox of solutions we bring to our customers."
Leach, exhibiting in Hall 3, Stand C9B, is a leading producer of high-performance electromechanical relays, solid-state switching devices and advanced power distribution assemblies for aerospace applications.
Cremin adds that Leach is a healthy, profitable business and all of its operations have strong engineering teams and world-class technologies. "Leach maintains solid positions on every key platform in the industry." He says Esterline's resources and solid aerospace/defence and medical market positions will give Leach new opportunities for growth.
Source: Flight Daily News
