EnCore Composites to acquire Composite Structures business of BAE Systems

Thu May 26 2011, 09:40 AM

DEAL IN BRIEF

EnCore Composites Holdings, Inc. has entered into an agreement to acquire the Composite Structures business of BAE Systems plc, a UK-based provider of advanced electronics, security and information technology solutions.

The Composite Structures business designs and manufactures composite components and assemblies that are primarily used on commercial and defence aerospace platforms.

The transaction is expected to close during the second or third quarter of 2011.

Deal Type: Asset Transaction

DEAL INFORMATION

Deal Status: Announced

Expected Completion date: 30/09/2011

Announced date: 24/05/2011

COMPANIES

Vendor Company: BAE Systems plc

Acquirer Company: EnCore Composites Holdings, Inc.

Deal Rationale: The acquisition is part of BAE's plan to better align its strategic objectives and business portfolio.

Deal Rationale Type: Operational Synergy.