B/E Aerospace to Acquire Satair’s Aerospace Fastener Distribution Business in $162 Million Transaction

B/E Aerospace (Nasdaq:BEAV), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading distributor of aerospace fasteners and consumables, today announced that it has signed a definitive agreement with Satair A/S to acquire Satair’s aerospace fastener distribution business, a market leader in the distribution of consumables to European and Asia Pacific aerospace manufacturers and their suppliers. The acquisition complements and expands B/E Aerospace’s current broad consumables product offerings to include metric fasteners, adhesive fasteners, latches, cables, struts, tooling and lighting products.

“By combining Satair’s fastener distribution business with our existing European distribution and supply chain management operations, we will create a more robust and evenly balanced footprint in both Europe and Asia. Satair’s business is highly complementary to ours and we believe that both the customer and supply base will enthusiastically support the joining of two strongly customer focused suppliers and the opportunity to one-stop shop with a company better able to support their requirements through a substantially broader product and services offering, enhanced global footprint and a history of outstanding customer service,” said Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace.

Mr. Khoury concluded, “The Satair aerospace fastener distribution business acquisition substantially expands the B/E Aerospace customer base in the European and Asia Pacific regions and also expands our product offerings. This business has an excellent OEM-oriented customer base and is highly complementary to our consumables management segment.”

The transaction is expected to close in the fourth quarter of 2010. The purchase price of approximately $162 million in cash represents a multiple of approximately 1.5 times expected 2010 revenues and approximately 10 times estimated 2010 earnings before interest, taxes, depreciation and amortization. The acquisition is expected to be neutral to B/E Aerospace 2011 net earnings, and accretive to net earnings thereafter. Through expected efficiency improvement initiatives the company expects to be able to deliver margins in this business approximately equal to the margins which the company currently generates in its consumables management segment; much as the company has done subsequent to both the New York Fasteners and Honeywell HCS acquisitions.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties. B/E Aerospace’s actual experience and results may differ materially from the experience and results anticipated in such statements. Factors that might cause such a difference include those related to the completion of pending acquisitions, and the expected benefits from any pending, future or completed acquisitions, changes in market and industry conditions and those discussed in B/E Aerospace’s filings with the Securities and Exchange Commission, which include its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. For more information, see the section entitled “Forward-Looking Statements” contained in B/E Aerospace’s Annual Report on Form 10-K and in other filings. The forward-looking statements included in this news release are made only as of the date of this news release and, except as required by federal securities laws, we do not intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

About B/E Aerospace

B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products and the world’s leading distributor of aerospace fasteners and consumables. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting, oxygen systems, food and beverage preparation / storage equipment, and water and vacuum waste systems. The company also provides cabin interior design, reconfiguration and passenger-to-freighter conversion services. Products for the existing aircraft fleet - the aftermarket - generate approximately 50 percent of sales. B/E Aerospace sells and supports its products through its own global direct sales and product support organization. For more information, visit the B/E Aerospace website at www.beaerospace.com.

B/E Aerospace, Inc. (NASDAQ:BEAV)
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