Boeing is acquiring KLX Inc, the world’s leading provider of aerospace fasteners and consumables, for $4.25 billion in an all-cash transaction.
KLX announced that the Company has entered into a definitive agreement to sell the Aerospace Solutions Group (“ASG”) to The Boeing Company for $63.00 per share in cash. The transaction with Boeing is valued at approximately $4.25 billion, including the assumption of approximately $995 million in net debt.
The deal is the largest in Boeing’s recent acquisitions and expected to triple sales at Boeing’s services business to $50 billion within a decade.
As part of acquisitions, Boeing has held preliminary talks with partsmaker Woodward Inc and is deep into talks to form a joint venture with Embraer.
“We continue to see global services as our biggest market-growth opportunity,” said the CEO of Boeing at the company’s annual meeting on Monday.