Wesco Aircraft To Acquire Hass Group For $550 Mln, Reiterates FY14 Outlook

(RTTNews) - Wesco Aircraft Holdings, Inc. (WAIR) Thursday announced agreement to acquire Haas Group Inc. for an all cash offer of $550 million.

The acquisition of Haas provides significant opportunities for Wesco to continue growing at above-market rates.

"The culture, capabilities, and scope of Haas' global business are an ideal fit for the Company. The acquisition of Haas will add over 125,000 SKUs, value added supply chain management solutions and a world class group of over 1,300 employees to Wesco, " said Randy Snyder, Chairman and CEO.

The acquisition is subject to certain closing adjustments, from certain investment funds affiliated with The Jordan Company, L.P.

Additionally, the company has forecast first-quarter earnings in a range of $0.24 to $0.26 per share, with adjusted earnings ranging between $0.26 and $0.28 per share.

Revenues are expected to be between $223 to $227 million. Analysts currently expect the company to report first-quarter earnings of $0.33 per share on revenues of $246.83 million.

For the fiscal year 2014, the company has reiterated its original guidance, and continues to project adjusted earnings in the range of $1.31 to $1.37 per share, with revenues in the order of $975 million to $1.01 billion.

Analysts currently expect the company to report full-year earnings of $1.34 per share on revenues of $993.47 million.