Ducommun acquires BLR Aerospace for $115M; deal expected to close Q2 2023

DUCOMMUN INC /DE/

Ducommun subsidiary to acquire 100% of BLR Aerospace for $115M net of cash, subject to working capital adjustments.
BLR provides proprietary aerodynamic systems (FastFin®, winglets) for rotary/fixed-wing aircraft; founded 1992.
Acquisition expected to close in Q2 2023, subject to regulatory approval and customary closing conditions.
Financing from existing revolving credit facility; B. Riley Securities acted as financial advisor to Ducommun.
Ducommun CEO cites alignment with strategy to increase engineered products and aftermarket revenue.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DUCOMMUN INC /DE/ entered into Securities Purchase Agreement with BLR Aerospace, L.L.C. valued at $115 million (effective 2023-03-20).

Action: entry
Agreement: asset purchase
Counterparty: BLR Aerospace, L.L.C.
Value: $115 million
Effective: 2023-03-20

Exact text from the filing

On March 20, 2023, Ducommun LaBarge Technologies, Inc. (the “ Buyer ” ), a wholly owned subsidiary of Ducommun Incorporated (the “ Company ” ), entered into a Securities Purchase Agreement (the “ Agreement ” ) by and among BLR Aerospace, L.L.C. (“ BLR ”), Crescent Capital Aerospace, L.L.C. (“ CCA ”) and Michael Carpenter (“ Carpenter ,” together with CCA, the “ Sellers ”), CCA in its capacity as Seller Representative, and the Company (solely for purposes of Section 7.07 of the Agreement), to acquire 100% of the membership interests of BLR (the “ T ransaction ” ).

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Source: SEC EDGAR

accession 0001193125-23-075209

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