B/E Aerospace Completes NYF Deal for $66.5m
September 05
00:00
2006
B/E Aerospace Completes NYF Deal for $66.5m
Jason Sandefur
B/E Aerospace Inc. completed its acquisition of New York Fasteners Corp. for about $66.5 million in cash.
B/E plans to merge NYF’s complementary hardware distribution and vendor-managed inventory business with its own distribution operations based in Miami. The integration is expected to “significantly expand B/E’s overall penetration into the military sector.” B/E hopes to boost its portion of the military market above $100 million.
Founded in 1956, NYF had revenues of approximately $56 million for its most recent fiscal year ended June 30, 2006, with about 70% of sales going to the military. Web: beaerospace.com �2006 FastenerNews.com
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