Boeing announced Tuesday that it reached an agreement to acquire aerospace parts distributor KLX for $4.25 billion as it boosts its aviation services business.
Boeing executives described the move as a significant step in bolstering its global services segment, which was launched last year and aims to increase annual revenues from $15 billion in 2017 to $50 billion in five years.
"This acquisition is the next step in our services growth strategy, with a clear opportunity to profitably grow our business and better serve our customers in a $2.6 trillion, 10-year services market," said Stan Deal, chief executive of Boeing Global Services.
Miami, Florida-based KLX provides aerospace parts and services to commercial, business and defense jet customers worldwide, shipping a majority of goods within 24 hours of the order, according to a KLX securities filing.
KLX reported $1.7 billion in revenues in 2017.
Under the all-cash deal, Boeing values Florida-based KLX at $63 per share and will assume $1 billion in debt.
KLX will divest its energy services business, which provides oilfield tools and services to the oil business.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.