Aerospace and defense parts supplier Esterline Technologies Corp said it has entered into exclusive negotiations with private equity firm Sagard to acquire France-based Souriau Group for about $715 million. The deal will enhance Esterline's Sensors and Systems segment as well as its presence in France. Esterline expects the deal, expected to close in July, to add about $95 million in revenues and adjusted earnings of $0.08-$0.10 per share in its fourth quarter. Esterline's products are used in the U.S. F-35 Joint Strike Fighter (JSF) jet and Boeing Dreamliner aircraft.
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