Elbit Systems of America (ESA) on Wednesday said it paid $85 million to acquire M7 Aerospace, of San Antonio, in an all-cash transaction.
"We are pleased to take this important step towards enhancing our support solutions capabilities in the U.S. market. This acquisition complements the breadth and depth of ESA's experience in the support and maintenance of aircraft both domestically and world-wide, and we hope it will open the door to new customers and projects," said Elbit Systems of America, President and CEO Raanan Horowitz.
Elbit Systems of America, the U.S. subsidiary of Israel-based Elbit Systems, said M7 will boost its capabilities in avionics upgrades, special mission modifications, reset programs and airframe modification and repair for numerous aircraft platforms operated by both commercial and military customers. M7 Aerospace provides a suite of aviation services in the areas of Aerostructures Manufacturing, Government Logistics Support Services, Maintenance, Repair & Overhaul, Engineering Services, Aircraft Parts and Support, Supply Chain Management and Purchasing.