Illustration adapted from Rockwell Collins infographic
Cleveland, Ohio – Just before the Easter holiday, Cedar Rapids, Iowa-based Rockwell Collins Inc. successfully completed its acquisition of aircraft cabin interior manufacturer B/E Aerospace. The transaction’s $8.6 billion in total consideration, including debt assumed, was higher than the $8.3 billion figure announced last October. Following the acquisition, Rockwell Collins now has nearly 30,000 employees and pro forma annual revenue of more than $8 billion, which the company based on calendar year 2016 results.
Rockwell Collins immediately rebranded B/E Aerospace, redirecting the website to a near-replica of the new owners’ website landing page. Werner Lieberherr, the former B/E Aerospace president and CEO, now becomes executive vice president and COO of the newly created Rockwell Collins Interior Systems business. Lieberherr reports to Kelly Ortberg, Rockwell Collins’ chairman, president, and CEO.
The acquisition expands Rockwell Collins’ portfolio with cabin interior products for commercial aircraft and business jets including seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems. Previously known for its cockpit, cabin management, communication, and connectivity solutions, Rockwell Collins diversification in product portfolio and customer mix is intended to advance its global growth strategy.
Ortberg was quoted in the press release saying, “The industry-leading products and solutions being brought together by this acquisition give us a much broader offering, increasing value for our customers and ultimately driving long-term, profitable growth and shareowner value.”
Lieberherr shared the sentiment, saying, “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.”
Just days after the transaction was complete, B/E Aerospace officials announced the closing of the company’s Rockford, Illinois, plant, eliminating 42 positions by September 2017.