Client Precision Castparts Corp. announced it has agreed to acquire Permaswage Holding SAS, a world-leading designer and manufacturer of aerospace fittings, for $600 million. The deal is expected to be completed during the third quarter of 2013, subject to regulatory approvals. A Stoel Rives deal team led by Jason Brauser assisted Precision Castparts in negotiating the transaction.
Permaswage designs and manufactures permanent fittings used in fluid conveyance systems for airframe applications, as well as related installation tooling. Permaswage permanent fittings have been designed into virtually every major commercial and military aircraft program. The company operates three manufacturing locations in California, France and China, and employs 680 people worldwide.
Assisting Brauser on the deal were attorneys Douglas Lindgren, Bethany Bacci, Christopher Heuer and Peter Serrurier. The transaction was featured as a Top Deal by Law360 for the week of June 23-28 (subscription required for access).