Thursday, February 1, 2007

Esterline Buys CMC Electronics

Bellevue, Washington-based Esterline Corporation said today that it is in a $335M cash deal to acquire CMC Electronics Inc, a aerospace and defense avionics firm. Canada-based CMC designs products for the aviation market, including GPS systems, head-ups displays, enhanced vision systems, and other products. According to Esterline, CMC had revenues of C$205M for the 12 months ending September 30, 2006. Bears Sterans advised Esterline in the deal; CMC was advised by Jeffries Quarterdeck.