Safran acquires Eaton Solutions business
Safran has completed the acquisition of the Aerospace Power Distribution Management Solutions and the Integrated Cockpit Solutions business of Eaton. The definitive agreement to acquire the businesses and the financial terms of the transaction were announced on January 20, 2014.
The business generated revenues of approximately $102 million and EBITDA in excess of $14 million in 2013. Aerospace Power Distribution Management Solutions account for around 60 per cent of the activity, and Integrated Cockpit Solutions around 40 per cent. The business employs approximately 350 people at manufacturing facilities in Costa Mesa, California, and Sarasota, Florida.
The business will be consolidated by Safran with effect from May 9, 2014. The Aerospace Power Distribution Management Solutions activities will be consolidated within the Aircraft Equipment business. The Integrated Cockpit Solutions activities will be consolidated within the defence business.