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Tuesday, November 17, 2009
Goodrich To Buy Atlantic Inertial For $375 Million
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- Goodrich Corp. said Tuesday it intends to acquire Atlantic Inertial Systems from private-equity firm J.F. Lehman & Co. for $375 million. The deal to buy the maker of guidance, stabilization and navigation products maker is expected to close before the end of the year, subject to regulatory approval. Charlotte, N.C.-based Goodrich projects the acquisition will be slightly accretive to 2010 earnings. For 2009, AIS is forecast to ring up about $180 million in sales, and growth is expected to be significant over the next several years. Last year, Goodrich had revenue of about $7 billion. Shares of Goodrich closed Monday at $60.41.
Copyright © 2009 MarketWatch, Inc.
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