Sonaca Group to Acquire LMI Aerospace

LMI Aerospace Inc. announced that it has agreed to be acquired by Sonaca Group, an aersostructures firm based in Belgium, for approximately $190 million.  Based on LMI's existing debt and projected 2016 financials, the deal multiples are approximately 1x revenue and 11x EBITDA.  Headquartered in St. Louis, Missouri, LMI is a supplier of structural assemblies, kits, and components and is a provider of engineering services to various industries including the military aerospace markets.  The deal is expected to close in mid-2017.  Lazard is advising LMI while Credit Suisse is advising Sonaca.