New Berlin-based Emteq Inc. is being acquired by B/E Aerospace Inc., a Wellington, Fla.-based manufacturer of aircraft cabin products and aerospace fasteners.
B/E Aerospace, which is publicly traded on the Nasdaq (BEAV), announced it has signed definitive agreements to acquire Emteq and F+E Fischer + Entwicklungen GmbH & Co. KG (Fischer), a German manufacturer of seating products for civilian helicopters.
Emteq manufactures aircraft interior and exterior lighting systems, as well as aircraft cabin management and power systems.
Amin Khoury, chairman and chief executive officer of B/E Aerospace said, “Demand for comprehensive and integrated solutions for power management, lighting and connectivity within the aircraft cabin is growing, and the acquisition of Emteq will enable us to offer more comprehensive solutions. Customers value the ability to partner with a company that can deliver turn-key solutions.”
Khoury added, “The combination of our lighting and power management systems business with Emteq’s highly complementary lighting, cabin management and power systems businesses, as well as their electrical and connectivity expertise, will allow us to expand our product and service offerings in the commercial airliner and business jet markets. This acquisition will allow B/E Aerospace to provide complete aircraft lighting and engineering integration solutions, allowing technology crossover and additional product and service offerings in numerous aircraft platforms. We also expect significant product development, manufacturing and operational synergies.”
The total combined acquisition purchase price for both companies is approximately $470 million. Emteq and Fischer reported combined annual revenues of approximately $150 million.
The Emteq transaction is expected to close this month, while the Fischer transaction is expected to close around the beginning of the third quarter of 2014, subject to regulatory approvals.
B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products and the world’s leading provider of aerospace fasteners, consumables and logistics services. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. The company also provides cabin interior reconfiguration, program management and certification services.
The company provides aerospace fasteners, consumables and logistics services as well as oilfield services and associated rental equipment. B/E Aerospace sells and supports its products through its own global direct sales and product support organization.
Jerry Jendusa, who co-founded Emteq, has resigned as its CEO but continues to work with the company periodically as a consultant. Jendusa is launching a new executive coaching company, Getunstuck.net, with Paul Schulls.
The 10th annual Emteq Charity Golf Outing will take place as scheduled on Monday, July 21. Since it was started by Jendusa, the outing has raised more than $650.000 for Children’s Hospital of Wisconsin. BizTimes Media continues to serve as the media sponsor for the golf outing. To register to attend the outing or donate to the charity, click here.
After the sale of Emteq is closed, Jendusa said he will expand his philanthropic work.
