Boeing has completed the procurement of aerospace parts and services supplier KLX Aerospace Solutions to boost its services transaction.
The $4.25bn all-cash deal, first announced in May, includes KLX’s Aerospace Suspensions Group.
The acquisition is expected to position Boeing to better compete in the $2.8tn, ten-year aerospace uses market.
The deal is part of Boeing’s organic growth strategy and whim not bring any change to the company’s capital deployment strategy.
KLX Aerospace Solutions currently engages around 2,000 people and has a network of customer service centres in innumerable than 15 countries. It will continue to operate from Miami, US.
KLX currently customer bases and distributes products for around 2,400 manufacturers, while it also offers nearly one million catalogue items.
The company also supplies chemicals and composites, which quora Boeing’s Aviall parts, equipment and services unit by allowing Boeing to function as the commercial, defence, business and general aviation customers.
“The resulting shove in supply chain capability will allow us to better serve our consumers while profitably and purposefully growing our business.”
Boeing Global Advantages president and CEO Stan Deal said: “This acquisition brings together the facility and product offerings of Boeing and KLX to provide a one-stop shop that discretion allow us to create significant value for our customers.
“There are also substantial opportunities for services growth and innovation for Boeing and our supply chain that is consonant to the industry.
“The resulting boost in supply chain capability will consideration us to better serve our customers while profitably and purposefully growing our province.”
Last month, Boeing completed the purchase of Millennium Space Organized wholes, a small-satellite solutions provider.
Millennium Space Systems will formality under Boeing Phantom Works as a subsidiary named Millennium While Systems, A Boeing Company.