An employee from Rockwell Collins’ new Interior Systems business building airline cabin seats at its Winston-Salem, North Carolina-based facility. Photo: Rockwell Collins
B/E Aerospace no longer exists, as it now bears the Rockwell Collins brand, the company said. After a successful acquisition completion, the deal is worth $8.6 billion in total consideration.
“The many common values we share — from innovation and uncompromising quality and performance to outstanding customer relationships — position us well for a successful integration and make us stronger as we move forward together,” said Wener Lieberherr, former B/E Aerospace president and CEO. “Joining the Rockwell Collins family and its forward-thinking approach to the market sets us on an exciting path that will greatly benefit our customers, employees and shareowners.”
Leiberherr is now the EVP and COO of Rockwell Collins’ newly created Interior Systems business. He reports to Kelly Ortberg, Rockwell Collins’ chairman, president and CEO.
From the acquisition, Rockwell Collins gains cabin interior products for aircraft and business jets. This includes seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems.
Rockwell Collins shareowners greenlighted the business move last month. The company expects the acquisition to close later this year.
“The transaction is expected to generate run-rate pre-tax cost synergies of approximately $160 million ($125 million after tax),” Rockwell Collins said. “The company expects to achieve 90 percent of the cost synergies by the end of its fiscal year 2019. The transaction is expected to be double-digit accretive to GAAP earnings per share in fiscal year 2018.”