Aviation News Item: 00067

18th Nov 2009

Source: evaint.com

Goodrich Corporation has signed an agreement with an investment affiliate of J.F. Lehman & Company to acquire AIS Global Holdings LLC (AIS). AIS, known as Atlantic Inertial Systems, is a leading provider of mission-critical guidance, stabilisation and navigation products and systems for the military and defence market.
The transaction is expected to close by the end of 2009, subject to customary government approvals. Sales in 2009 for the business are expected to be approximately $180 million and are expected to grow significantly over the next several years.
The purchase price is approximately $375 million, reflecting a multiple of slightly less than nine times 2009 estimated adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA). The acquisition is expected to be slightly accretive to earnings in 2010, including the impact of purchase accounting adjustments.

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