Lavery is pleased to announce that it acted as the legal advisor to Héroux-Devtek Inc. (hereinafter "Héroux-Devtek"), a leading Canadian manufacturer of aerospace products, in connection with its acquisition of the entire share capital of U.K.-based APPH Limited and U.S.-based APPH Wichita, Inc. (collectively "APPH"), subsidiaries of BBA Aviation plc (LES: BBA). APPH is an integrated supplier of landing gear and hydraulic systems and assemblies for original equipment manufacturer (OEM) and aftermarket applications.
The transactional team at Lavery was led by Jean-Sébastien Desroches (mergers and acquisitions) and included Josianne Beaudry (securities) and Raphaël Bacal (mergers and acquisitions). Lavery's financing team was led by François Renaud (financing) and included Étienne Brassard (financing).
In this transaction, 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.
"Lavery is pleased to have been an active participant in this major international transaction in the aerospace sector. This transaction is an eloquent indicator of the firm's advanced expertise in the area of mergers and acquisitions, and once again demonstrates our team's ability to support our clients as they expand into international markets", said Don McCarty, Managing Partner of the firm.