US aerospace supplier K&F Industries is to be acquired by Los Angeles-based investor Aurora Capital Group for $1.06 billion in cash. Owned by Loral chairman Bernard Schwartz and Lehman Brothers Merchant Banking, K&F is the parent company of Aircraft Braking Systems (ABSC) and Engineered Fabrics.
K&F is one of the highest-margin companies in the Flight International Aerospace Top 100. It had revenues last year of $343 million, down slightly from 2003 on lower sales at Akron, Ohio-based ABSC.
ABSC was acquired from Goodyear by Loral in 1987, and combined with Engineered Fabrics to form K&F Industries in 1989. The company provides wheels and brakes for Bombardier CRJ and Embraer 170/190 regional jets and braking systems for business jets.
Source: Flight International