B/E Aerospace (Nasdaq:BEAV), the world’s leading manufacturer of
aircraft cabin interior products and the world’s leading provider of
aerospace fasteners, consumables and logistics services, today announced
that it has agreed to acquire LT Energy Services (LT), an Eagle Ford
based provider of rental equipment, and Wildcat Wireline (Wildcat), a
provider of wireline services primarily in the Eagle Ford basin, and
also in the Marcellus/Utica basin.
Amin J. Khoury, Founder, Chairman and Chief Executive Officer of B/E
Aerospace stated, “The acquisitions of LT, headquartered in Houston, TX,
and Wildcat, headquartered in Marshall, TX, continues our initiative to
expand our consumables management segment into the oilfield equipment
rental, logistics and services business. The acquisition of LT
establishes a new geographical base of operations in the Southwestern
United States, very similar to that of our Blue Dot subsidiary in the
Marcellus/Utica basin of the Northeastern United States. The acquisition
of Wildcat expands the Company’s service offerings in both locations.”
The total acquisition purchase price, including expenses, for these two
transactions is expected to be approximately $265 million. As previously
disclosed, discussions regarding these acquisitions have been ongoing
for some time. These transactions are expected to close during the first
quarter of 2014 subject to Hart-Scott-Rodino reviews. The two businesses
had latest 12 months ended September 30, 2013 revenues of approximately
$125 million.
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements involve risks and uncertainties. The
Company’s actual experience and results may differ materially from the
experience and results anticipated in such statements. Factors that
might cause such a difference include those discussed in the Company’s
filings with the Securities and Exchange Commission (SEC), which include
its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K. For more information, see the
section entitled "Forward-Looking Statements" contained in the Company’s
Annual Report on Form 10-K and in other filings. The forward-looking
statements included in this news release are made only as of the date of
this news release and, except as required by federal securities laws and
rules and regulations of the SEC, the Company undertakes no obligation
to publicly update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
About B/E Aerospace, Inc.
B/E Aerospace is the world’s leading manufacturer of aircraft cabin
interior products and the world’s leading provider of aerospace
fasteners, consumables and logistics services. B/E Aerospace designs,
develops and manufactures a broad range of products for both commercial
aircraft and business jets. B/E Aerospace manufactured products include
aircraft cabin seating, lighting systems, oxygen systems, food and
beverage preparation and storage equipment, galley systems, and modular
lavatory systems. The Company also provides cabin interior
reconfiguration, program management and certification services. B/E
Aerospace sells and supports its products through its own global direct
sales and product support organization. For more information, visit the
B/E Aerospace website at www.beaerospace.com.
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