Astronics to Acquire Armstrong Aerospace

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East Aurora, NY | December 24, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that it has entered into a definitive agreement to acquire Armstrong Aerospace (“Armstrong”) for approximately $51 million. The agreement is expected to close in January 2015, subject to normal closing requirements.

Armstrong Aerospace, located in Itasca, Illinois, is a leading provider of engineering, design and  certification solutions for commercial aircraft, specializing in connectivity, in-flight entertainment, and electrical power systems. Armstrong sales for 2014 are expected to be approximately $27 million.

Peter J. Gundermann, CEO of Astronics, commented, “I am pleased to include Armstrong in the expanding range of capabilities that Astronics has to offer, specifically in the connectivity and power  niche for commercial airlines. Armstrong has a strong entrepreneurial spirit, advanced engineering proficiency and significant experience in providing certifications for OEMs, integrators and airlines. And, like us, they have a history of solid growth.”

With this acquisition, Astronics now expects 2015 revenue will be between $680 million to $725 million

Mesirow Financial acted as the exclusive financial advisor to Armstrong Aerospace.

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