Boeing taking parts logistics provider under wing

The aircraft manufacturing giant will acquire KLX in a deal valued at $4.25 billion.    Aircraft manufacturing giant Boeing will acquire aviation parts and logistics services firm KLX in a deal valued at $4.25 billion.
   The deal is conditioned upon KLX’s divestiture of its Energy Services Group.
   Boeing is especially interested in KLX’s global parts distribution and supply chain services for the aerospace and defense industries worldwide. KLX will become part of Boeing Global Services and fully integrated with Aviall, the company said.
   Boeing expects the inclusion of KLX to grow its services in what it estimates to be a $2.6 trillion market over the next 10 years.
   “By combining the talent and product offerings of Aviall and KLX Inc., we will provide a one-stop shop that will benefit our supply chain and our various customers in a meaningful way,” said Stan Deal, president and CEO of Boeing Global Services, in a statement.
   KLX’s Aerospace Solutions Group fiscal year 2017 revenue was $1.4 billion. Boeing expects the acquisition to have a neutral earnings impact through 2019 and accretion thereafter, with annual cost savings growing to about $70 million by 2021.
   KLX has about 2,000 employees and is based in Miami, with customer service centers in more than 15 countries. The company distributes aviation parts for about 2,400 manufacturers and offers a catalog of about a million items.