Ducommun Closes on Strategic Acquisition
September 11 2017 - 4:15PM
Ducommun Incorporated (NYSE:DCO) (“Ducommun” or the “Company”)
announced today that it has completed the acquisition of LS
Holdings Company, LLC, the holding company of Lightning Diversion
Systems (“LDS”). Huntington Beach, Calif.-based LDS was founded in
the 1980’s and is a world leader in lightning protection systems
using its proprietary technology for various applications serving
the aerospace and defense industries. Ducommun stated the
purchase price was $60 million, which was paid in cash at closing.
“This acquisition is part of Ducommun’s overall
strategy to enhance top-line growth by focusing on advanced
proprietary technology on various aerospace and defense platforms.
I am pleased to welcome Dave Wilmot, the president of LDS, and his
team to Ducommun and look forward to them being part of our
organization,” said Stephen Oswald, Ducommun president and chief
executive officer.
Ducommun expects the acquisition to be accretive
to earnings within the first year following closing and financed
the purchase through its existing revolving credit facility.
Additional financial details were not disclosed.
Advisors Winston & Strawn, LLC served as
legal advisor to Ducommun. Janes Capital Partners served as
financial advisor and BakerHostetler served as legal advisor to LS
Holdings Company, LLC.
About Ducommun Incorporated
Ducommun Incorporated delivers value-added innovative manufacturing
solutions to customers in the aerospace, defense and industrial
markets. Founded in 1849, the company specializes in two core areas
– Electronic Systems and Structural Systems – to produce complex
products and components for commercial aircraft platforms,
mission-critical military and space programs, and sophisticated
industrial applications. For more information, visit
www.ducommun.com.
This press release includes "forward looking
statements" relating to the acquisition of LS Holdings Company LLC
discussed above, including statements relating to Ducommun’s
expectations relating to the acquisition being accretive to its
earnings. These statements are based on assumptions currently
believed to be valid, but they involve risks and uncertainties that
could cause our actual results to differ materially from those
expressed in the forward looking statements. Important
uncertainties that could cause our actual results to differ from
those expressed in the forward looking statements are identified in
our reports filed with the SEC, including our Quarterly Reports on
Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports
on Form 8-K. The forward looking statements included in this press
release are made only as of the date of this press release, and
Ducommun does not undertake any obligation to (and expressly
disclaims any such obligation to) update the forward looking
statements to reflect subsequent events or circumstances.
CONTACTS:
Douglas L. Groves, Vice President, Chief Financial Officer and Treasurer, 310.513.7224
Chris Witty, Investor Relations, 646.438.9385, cwitty@darrowir.com
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