Landing gear manufacturer to be acquired by PE firm

Héroux-Devtek, the landing gear manufacturer, has entered into an arrangement agreement with an affiliate of US-based private equity firm Platinum Equity Advisors (Platinum Equity). The terms of the deal value the acquisition by Platinum Equity at approximately $1.35bn. The PE firm will acquire all the issued and outstanding common shares of Héroux-Devtek for $32.50 in cash per share. Common shares owned by members of senior management, including Gilles Labbé, executive chairman of the board, and Martin Brassard, president and chief executive officer, will be rolled over for an amount per share equal to the consideration received by the corporation’s shareholders.