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Astronics Corp Announces Acquisition of PECO Inc


Tuesday, 28 May 2013 06:14pm EDT 

Astronics Corp announced that it has entered into a definitive agreement to acquire the outstanding shares of PECO Inc. (PECO) for approximately $136 million in cash. The agreement is expected to close in late June 2013, and is subject to certain conditions, including a review under the Hart-Scott-Rodino Antitrust Improvements Act and the successful arrangement of debt financing by Astronics. PECO, located in Portland, Oregon, designs and manufacturers engineered commercial aerospace interior components and systems for the aerospace industry. The company specializes in Passenger Service Units (PSUs) which incorporate air handling, emergency oxygen, electrical power management and cabin lighting systems. It also manufactures a wide range of fuel access doors that meet stringent strength, fuel sealing and anti-corrosion requirements. PECO enjoys a longstanding relationship with many aerospace customers, including The Boeing Company, for which it provides a variety of products across its line of commercial airliners. Houlihan Lokey acted as the exclusive financial advisor to PECO. 

Company Quote

53.84
1.47 +2.81%
26 Dec 2014