Héroux-Devtek Inc., describing itself as the world’s third-largest landing gear manufacturer, has concluded the acquisition of all the outstanding shares of Montreal-based Alta Precision Inc., a manufacturer of high-precision landing gear components. The transaction, which is subject to final purchase price adjustments, is valued at $23 million and was funded through the Corporation’s credit facilities.
This move follows other key acquisitions made by Héroux-Devtek over the last year, including CESA, Beaver and Tekalia. “The acquisition of Alta Precision Inc. expands our portfolio of commercial products by providing both access to new programs and additional content on existing platforms,” said Martin Brassard, president & CEO of Héroux-Devtek. “It also comes with the backlog and manufacturing capacity necessary to grow the existing business.”
Alta Precision president Guillermo Alonso is joining the Héroux-Devtek team. “With its growing customer base in North America and Europe, we will play a strong role in accelerating the growth of the corporation,” said Alonso.
Founded in 1980, Alta Precision is a privately owned company which operates a 72,000-square-foot facility in Montreal, Québec. The company has approximately $18 million in annual revenues and employs 110 personnel. Alta Precision manufactures complex landing gear components and assemblies for large customers such as Embraer, Safran, Liebherr and the United States Air Force. Alta Precision explains its backlog is comprised mainly of commercial aircraft landing gear components for the new E-2 and Airbus A-220 programs and for the Boeing 787 and Airbus A-350, two recent and growing commercial platforms.
Héroux-Devtek, with its head office in Longueuil, Québec, has 1,960 employees around the world, of which approximately 800 are located in Québec following the acquisition of Alta Precision Inc. Since its inception in 1942, Héroux-Devtek has grown from a small repair and overhaul facility to a world-class supplier of landing gear and actuation systems, delivering on major platforms such as the Boeing 777 and 777X. Approximately 90 per cent of company’s sales are outside of Canada, including about 50 per cent in the United States.