GE Buying UK Private Equity Firm’s Aviation Segment for $4.3B; David Joyce Comments

GElogoGeneral Electric (NYSE: GE) has agreed to acquire the aviation business of Avio S.p.A., an Italy-based maker of aviation propulsion components and systems for civil and military aircraft, for $4.3 billion.

Bloomberg reports GE is making the acquisition in an attempt to gain more control over its supply chain as Boeing (NYSE: BA) and EADS‘ Airbus subsidiary are ramping up production.

U.K.-based equity firm Cinven Ltd. owns the business and Italian conglomerate Finmeccanica holds a minority stake, according to the report by Robert Wall and Marco Bertacche.

Avio’s aviation business had sales of $2.2 billion last year and more than half of the company’s sales come from GE and GE joint-venture engines, according to the report.

Check Also


QuantiTech Buys Spaceflight Engineering Firm DCI; Darryl Wortman Quoted

QuantiTech, a technical engineering services provider to the government sector, has purchased Dynamic Concepts Inc. for an undisclosed sum in a move to expand work with NASA across human spaceflight programs.

health care

Alliant Enterprises Wins $225M DLA Patient Monitoring Tech IDIQ

Alliant Enterprises has won a potential 10-year, $225M contract from the Defense Logistics Agency to provide patient monitoring systems, capital equipment and accessories to the U.S. Air Force, Army, Marine Corps, Navy and federal civilian agencies.