B/E Aerospace To Buy 2 Equipment Rental, Logistics & Services Businesses

(RTTNews) - B/E Aerospace (BEAV) reported agreeing to acquire LT Energy Services (LT), an Eagle Ford based provider of rental equipment, and Wildcat Wireline, a provider of wireline services mainly in the Eagle Ford basin, and also in the Marcellus/Utica basin.

Founder, Chairman and Chief Executive of B/E Aerospace said, "The acquisitions of LT, headquartered in Houston, TX, and Wildcat, headquartered in Marshall, TX, continues our initiative to expand our consumables management segment into the oilfield equipment rental, logistics and services business. The acquisition of LT establishes a new geographical base of operations in the Southwestern United States, very similar to that of our Blue Dot subsidiary in the Marcellus/Utica basin of the Northeastern United States. The acquisition of Wildcat expands the Company's service offerings in both locations."

The total purchase price, including expenses, for these two transactions is likely to be about $265 million. As stated earlier, talks on these acquisitions were ongoing for some time. These transactions may close in the first quarter of 2014, subject to Hart-Scott-Rodino reviews. The two businesses had latest 12 months ended September 30, 2013 revenues of about $125 million.