Leggett & Platt has signed an agreement to sell its Aerospace Products Group to affiliated funds managed by Tinicum for a cash purchase price of $285 million.
The transaction is expected to close this year. The after-tax cash proceeds are expected to be approximately $240 million.
The Aerospace Products Group is a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms and space launch vehicles.
The business is comprised of seven manufacturing facilities located in the US, UK, and France and approximately 700 employees with net trade sales of $190 million in 2024.
This sale is part of the company's ongoing strategic business review, aimed at determining which businesses are the right long-term fit for the company.
2025 full year guidance excluding the Aerospace Products Group will be issued after the transaction closes.
Lazard is serving as exclusive financial advisor and Freshfields is serving as legal advisor to Leggett & Platt in this transaction.