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  • Tuesday, April 30, 2024

Boeing Closes KLX Purchase; Stan Deal Quoted

 

Boeing (NYSE: BA) has wrapped up its $3.2 billion cash acquisition of Florida-based aviation parts and services provider KLX.

The transaction is part of Boeing’s aerospace services market push and expands its offerings for defense, business, commercial and general aviation clients, the company said Tuesday.

The Chicago-based planemaker first announced the deal May 1.

Stan Deal, president and CEO of Boeing’s global services business, said the combination seeks to offer a “one-stop shop” for customers.

Deal added he sees multiple innovation opportunities for the company and its supply chain.

Boeing does not expect the deal to affect the firm’s capital development or commitment to shareholders 100 percent of free cash flow.

KLX distributes a wide range of products to nearly 2,400 manufacturers and sells one million catalog items.

 

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