Leggett & Platt (LEG) said Wednesday it has signed an agreement to sell its Aerospace Products Group to affiliated funds managed by Tinicum for $285 million in cash.
Aerospace Products Group is a supplier of tube and duct assemblies for use in commercial and military aircraft platforms and space launch vehicles. The business is comprised of seven manufacturing facilities in the US, UK and France.
The transaction is expected to close within 2025. This divestiture is part of the company's ongoing strategic business review.
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