Landing gear manufacturer Héroux-Devtek Inc. has concluded the acquisition of all the outstanding shares of Montréal-based Alta Précision Inc., a manufacturer of high-precision landing gear components.
The transaction, subject to final purchase price adjustments, is valued at $23 million.
Héroux-Devtek, based in Longueuil, Québec, has 1,960 employees around the world, of which approximately 800 are located in Québec following the acquisition of Alta Precision Inc. Founded in 1942, Héroux-Devtek is a major supplier of landing gear and actuation systems, delivering on platforms such as the Boeing 777 and 777X. The Alta Precision acquisition comes after the company also acquired CESA, Beaver and Tekalia, announced over the last year.
Founded in 1980, Alta Précision is a privately owned company which operates a 72,000 square foot facility located in Montréal. The company has approximately $18 million in annual revenues and employs 110. The company manufactures complex landing gear components and assemblies for large customers such as Embraer, Safran, Liebherr and the United States Air Force.
“The acquisition of Alta Precision Inc. expands our portfolio of commercial products by providing both access to new programs and additional content on existing platforms,” said Martin Brassard, President & CEO of Héroux-Devtek. “It also comes with the backlog and manufacturing capacity necessary to grow the existing business.”