Woodward Advances with Safran Acquisition to Elevate Aircraft Technology
Deal News | Dec 20, 2024 | Globenewswire
Woodward, a leader in aerospace and industrial energy control solutions, has signed a definitive agreement to acquire Safran's electromechanical actuation business. Located in North America, this branch of Safran Electronics & Defense focuses on systems like the Horizontal Stabilizer Trim Actuation for aircraft stabilization. Key assets include intellectual property, operations assets, and long-term customer agreements, contributing to Woodward’s technology platform for next-generation aircraft. Chip Blankenship, CEO of Woodward, sees the acquisition as an alignment with the company’s growth strategies. Safran's CEO, Franck Saudo, acknowledges the move as pivotal for Safran's forthcoming acquisition of Collins Aerospace actuation. Although financial specifics remain undisclosed, the transaction is set to conclude mid-2025, pending regulatory clearances. This acquisition reflects Woodward's strategy to enhance its aerospace offerings, catering specifically to widebody and next-gen single aisle aircraft programs.
Sectors
- Aerospace
- Industrial Energy Control
Geography
- United States – Woodward and Safran's electromechanical actuation business are operating within the U.S., which is part of the acquisition's geographical scope.
- France – Safran, a French multinational, is originating from France and divesting its North American business unit as part of this transaction.
- Mexico – Safran’s business operations included in the acquisition are based in Mexico, contributing to the geographical focus of the deal.
- Canada – Part of Safran's operations involved in the transaction are also based in Canada, showing a North American regional focus.
Industry
- Aerospace – Woodward's acquisition of Safran's electromechanical actuation business is directly related to aviation technology, focusing on aircraft stabilization systems.
- Industrial Energy Control – Woodward's role as a provider of energy control solutions across the aerospace and industrial markets classifies it within industrial energy control.
Financials
- Not disclosed – The financial terms of the acquisition were not disclosed as it was considered not financially material.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Woodward, Inc. | Bidding Company/Buyer | Company | Woodward is a global leader in the design, manufacture, and service of control solutions for aerospace and industrial equipment markets. |
| Safran Electronics & Defense | Target Company | Company | A division of Safran that provides solutions for aerospace electromechanical systems, which is being acquired by Woodward. |
| Collins Aerospace | Target of Future Safran Acquisition | Company | Collins Aerospace’s actuation and flight control activities are targeted by Safran for future acquisition. |
| Chip Blankenship | CEO | People | Chairman and CEO of Woodward, overseeing the acquisition strategy. |
| Franck Saudo | CEO | People | CEO of Safran Electronics & Defense, commenting on the strategic move and future plans. |