Héroux-Devtek Inc., a leading Canadian manufacturer of aerospace products, acquired the entire share capital of UK-based APPH Limited and US-based APPH Wichita, Inc. (collectively APPH), subsidiaries of BBA Aviation plc.
Héroux-Devtek acquired four plants located in the United Kingdom and one plant in Wichita, Kansas. These plants have a combined workforce of approximately 400 employees, including a design engineering department staffed with 40 professionals. The purchase price, net of about US$4 million of cash acquired, is approximately US$124 million. The transaction was financed with Héroux-Devtek's available cash and existing credit facilities.
APPH is an integrated supplier of landing gear and hydraulic systems and assemblies for original equipment manufacturer (OEM) and aftermarket applications.
Héroux-Devtek Inc. was represented by Lavery, de Billy, L.L.P. with a team led by Jean-Sébastien Desroches (mergers and acquisitions) and included Josianne Beaudry (securities), Catherine Méthot (business law and real estate law) and Raphaël Bacal (mergers and acquisitions), and François Renaud and Étienne Brassard (financing). Hogan Lovells also represented Héroux-Devtek with a team led by Richard Ufland, with Michael Stewart (London) and Stephen Propst (Washington).
BBA Aviation plc and its subsidiaries were represented by Gavin Murray, Senior Corporate Counsel of BBA Aviation plc, and by Eversheds LLP with a team of Jonathan Cox-Brown and Amelia Guilfoyle. Héroux-Devtek's lenders were represented by Fasken Martineau DuMoulin LLP with a team led by Félix Gutierrez.