Posted on: 03 August 2010 by Ross McSweeny
Goodrich has agreed to acquire the DeCrane Holdings cabin management business, which makes business jet seating, furniture, veneers and cabin management systems. The transaction does not include DeCrane’s aircraft completions business.
The cabin management systems are the work of Audio International, whose products include DVD/CD players, LCD flat screen monitors and cabin control modules.
Goodrich says the purchase price is approximately $280 million. It expects the business’s sales to be approximately $170 million in 2010 and to grow significantly over the next several years as the business jet market recovers with the broad economy. The assets will become part of Goodrich’s interiors business, within its Nacelles and Interior Systems segment.
"This acquisition is an opportunity for Goodrich to add a solid business with excellent market positions in business jet interior systems at an advantageous time in the cycle," says Cindy Egnotovich, segment president, nacelles and interior systems at Goodrich. "DeCrane’s leading position in the business jet market allows us to further support our customers in these important sectors and to capture significant growth opportunities as the business jet market continues its recovery."