Esterline Technologies Corporation Makes Flurry of Acquisitions

Esterline Technologies Corporation, a manufacturer of specialty aerospace and defense products for over a century, has been involved in several key acquisitions over the past two decades. Starting in 1998, the company agreed to purchase Kirkhill Rubber Company for $83 million, at which time Esterline had already acquired two-thirds of Kirkhill’s stock.

Kirkhill Rubber Company makes custom-engineered products using elastomers, which are synthetic rubbers. At the time, the company generated $60 million in annual revenue. This acquisition has proven to be very fruitful for Esterline over the years, as it has utilized the custom-engineered products in the commercial and military aerospace industries.

Five years later, Esterline acquired Roxboro Group’s aerospace-sensors division for $88 million. The move allowed Esterline to expand business in Britain and also to increase its sales in sensors unit by 50% to a total of $150 million. Esterline was also able to add an array of temperature, pressure, and motion detector products to its portfolio. In the most recent expansion of its aerospace business, Esterline acquired Leach Holding Corporation in 2004 for $145 million, a move that was increased annual sales by an additional 20%.

This has been the biggest acquisition to date and added electrical components to its portfolio. Today, due to steady growth and acquisitions, Esterline competes with companies such as Eaton and Goodrich and maeks parts for every Boeing commercial aircraft in production.

Esterline Technologies Corporation, founded in 1906, is a publicly-traded manufacturer of aerospace, defense, gaming, and medical products. It is one of the most well-known suppliers of equipment for Boeing and Airbus as well as American and allied military forces. The company employs over 12,000 people at 50 locations worldwide, who are spread across its Avionics & Controls, Sensors & Systems, and Advanced Materials divisions.

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