(From Leggett & Platt) Leggett & Platt has signed an agreement to sell its Aerospace Products Group to affiliated funds managed by Tinicum Incorporated for a cash purchase price of $285 million before customary working capital and debt-type adjustments. The transaction is expected to close in 2025 as soon as all closing conditions are met, including necessary regulatory approvals. The after-tax cash proceeds are expected to be approximately $240 million.
The Aerospace Products Group is a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms and space launch vehicles. The business is comprised of seven manufacturing facilities located in the U.S., UK, and France and approximately 700 employees with net trade sales of $190 million in 2024.
This divestiture is part of the ongoing strategic business review, aimed at determining which businesses are the right long-term fit for the company.
2025 full year guidance excluding the Aerospace Products Group will be issued after the transaction closes.
Lazard is serving as exclusive financial advisor and Freshfields is serving as legal advisor to Leggett & Platt in this transaction.
7 comments:
Every time I see the stock price, I’m reminded of why so many Carthage people are so cranky all the time
Legget & Platt stock is currently down almost 11% today.
Between that and Hooters going bankrupt there's probably plenty of sad to go around.
Everything is fine.
Nothing to worry about.
The President went golfing this afternoon.
I believe I read that that division was one of their more profitable. (from the last earnings report) Do they still have the flooring business in Croatia?1
The patient is doing so well Fox News has removed the Dow ticker from their broadcast!
"We're gonna win so much you may even get tired of winning and you'll say please please it's too much winning we can't take it anymore." Donald Trump
All of the Trump bashers here do not have a clue what they're talking about. L&P stock climbed during Trump's first term until May of 2021 when Biden was in office.
It climbed to $57 in early 2021 then with Biden in office it began to nosedive and it was $9 before Trump took office in 2025.
It's easy to check but they like to blame Trump because they only have 3 functioning brain cells.
Oh so know it’s Trumps fault, please this company has been dying slowly from outdated leadership and not willing to change with the times….
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