B/E Aerospace Acquires New York Fasteners Corp.

Wellington, FL - B/E Aerospace, Inc., manufacturer of aircraft cabin interior products and an aftermarket distributor of aerospace fasteners, announced that it has completed the acquisition of New York Fasteners Corp. (NYF), a distributor of a wide variety of aerospace fasteners and hardware primarily to the military sector, for approximately $66.5M in cash.

B/E plans to merge NYF's complementary hardware distribution and vendor-managed inventory business with its own distribution operations based in Miami, FL. The integration of NYF with B/E's distribution segment is expected to create procurement and operational synergies and significantly expand B/E's overall penetration into the military sector. The combination of NYF's vendor-managed inventory and third-party logistics capabilities and strong military and defense customer relationships, coupled with B/E's advanced automated stocking and retrieval systems is expected to allow B/E to offer a significantly wider range of products and services to a larger and broader customer base, according to the company.

SOURCE: B/E Aerospace, Inc.