Astronics To Buy Armstrong Aerospace For $51 Mln

(RTTNews) - Astronics Corp. (ATRO), a provider of advanced technologies for the global aerospace and defense industries, said it has entered into a definitive agreement to acquire Armstrong Aerospace for about $51 million. The agreement is expected to close in January 2015.

Itasca, Illinois-based Armstrong Aerospace is a provider of engineering, design and certification solutions for commercial aircraft. It specializes in connectivity, in-flight entertainment, and electrical power systems. Armstrong's sales for 2014 are expected to be around $27 million.

With this acquisition, Astronics now expects 2015 revenue will be between $680 million and $725 million.

Mesirow Financial acted as the exclusive financial advisor to Armstrong Aerospace.