French aerospace and defense company Safran has agreed to purchase a Collins Aerospace business that offers aircraft actuation and flight control products in an approximately $1.8 billion cash deal.
Safran said Friday it aims to complete the acquisition in the second quarter of 2024 and to balance the company’s exposure to the military and commercial aircraft markets through the acquisition.
The actuation and flight control business, which is projected to generate $1.5 billion in 2024 sales, has 3,700 employees working at eight facilities in Europe and Asia.
Collins Aerospace’s portfolio of mechanical and hydraulic actuators would help Safran position itself to pursue next-generation aircraft programs, the Paris-headquartered company noted.
The deal includes long-term supply agreements and Safran expects the purchase to have an accretive impact on the company’s earnings per share beginning on the first year.
Collins Aerospace is one of the three core businesses at RTX (NYSE: RTX).
