Chemring announced that it has reached an agreement to acquire Wallop Defence Systems from Esterline Corporation for an up-front cash consideration of £2.5M and additional payments of up to £9.0M conditional on the future receipt of specific orders. Wallop products incclude decoy flare countermeasures used in the protection of aircraft from missiles. The deal is expected to close in early 2016.
Edwards Advisory Partners is representing Esterline in the transaction.
We provide you with the latest news on acquisitions in the Defense and Government markets. Make sure to subscribe to our weekly deal updates: