PR Newswire
LOS ANGELES, Feb. 12, 2025 /PRNewswire/ -- Platinum Equity announced today that the acquisition of Héroux-Devtek Inc. (TSX: HRX), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, has been completed.
"We have tremendous respect for Héroux-Devtek and are excited to work with Gilles, Martin, Stéphane, and the rest of the company's talented team," said Louis Samson, Co-President of Platinum Equity. "We are particularly inspired by the company's entrepreneurial spirit and its 'can do' culture."
LOS ANGELES, Feb. 12, 2025 /CNW/ -- Platinum Equity announced today that the acquisition of Héroux-Devtek Inc. (TSX: HRX), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, has been completed.
"We have tremendous respect for Héroux-Devtek and are excited to work with Gilles, Martin, Stéphane, and the rest of the company's talented team," said Louis Samson, Co-President of Platinum Equity. "We are particularly inspired by the company's entrepreneurial spirit and its 'can do' culture."
LONGUEUIL, QC, Feb. 11, 2025 /CNW/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, today announced the completion of the previously announced plan of arrangement under the provisions of the Business Corporations Act (Québec) involving Héroux-Devtek and an affiliate (the "Purchaser") of Platinum Equity Advisors, LLC, pursuant to which the Purchaser has acquired, directly or indirectly, all the issued and outstanding common shares of the Corporation (the "Shares") for $32.50 in cash per Share (the "Arrangement").
LONGUEUIL, QC, Feb. 5, 2025 /CNW/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, is pleased to announce that today the required foreign direct investment approval of the Spanish Council of Ministers has been obtained in connection with the previously announced plan of arrangement under the Business Corporations Act (Québec) involving Héroux‑Devtek and an affiliate of Platinum Equity Advisors, LLC (the "Arrangement") and, therefore, all required regulatory approvals for the closing of the Arrangement have now been received.
Highlights
Sales increased to $173.2 million, up 22.4% from $141.5 million a year agoOperating income increased to $15.4 million, compared to $9.1 million last yearAdjusted EBITDA1 increased to $28.5 million or 16.5% of sales, compared to $18.2 million, or 12.9% of sales a year agoDiluted earnings per share and adjusted earnings per share1 increased to $0.29 and $0.38 compared to $0.14 last yearCash flows related to operating activities stood at $4.3 million compared to a usage of $15.6 million a year agoDuring the quarter, Héroux-Devtek entered into a definitive agreement to be acquired by Platinum EquityLONGUEUIL, QC, Sept. 16, 2024 /CNW/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced plan of arrangement under the provisions of the Business Corporations Act (Québec) involving Héroux-Devtek and an affiliate of Platinum Equity Advisors, LLC.
LONGUEUIL, QC, Sept. 6, 2024 /CNW/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, is pleased to announce that its shareholders have approved the previously announced plan of arrangement under the provisions of the Business Corporations Act (Québec) involving Héroux-Devtek and an affiliate of Platinum Equity Advisors, LLC.
At the special meeting of shareholders of Héroux-Devtek held earlier today, the arrangement resolution was approved by 99.25% of the votes cast by the holders of shares present in person or virtually or represented by proxy at the meeting, and by 99.15% of the votes cast by the holders of shares present in person or virtually or represented by proxy at the meeting, excluding the votes cast by the shareholders required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
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