Rockwell Collins, Inc. (NYSE: COL) has successfully completed the acquisition of B/E Aerospace, a manufacturer of aircraft cabin interior products and services, for USD 8.6bn in total consideration, including debt assumed,.
Rockwell Collins now has nearly 30,000 employees and pro forma annual revenue in excess of USD 8bn based on calendar year 2016 results.
Effective immediately, B/E Aerospace is rebranded Rockwell Collins. Werner Lieberherr, former B/E Aerospace president and chief executive officer, now becomes executive vice president and chief operating officer of Rockwell Collins´ newly created Interior Systems business. He reports to Kelly Ortberg, chairman, president and chief executive officer of Rockwell Collins.
The transaction is expected to generate run-rate pre-tax cost synergies of approximately USD 160m (USD 125m after tax). The company expects to achieve 90% of the cost synergies by the end of its fiscal year 2019. The transaction is expected to be double-digit accretive to GAAP earnings per share in fiscal year 2018.
Rockwell Collins provides solutions for commercial and military customers around the world as experts in flight deck avionics, cabin electronics, cabin interiors, information management, mission communications, and simulation and training.