NEW YORK Leggett & Platt Inc. has acquired U.K.-based tube fabricator David Hart Aerospace Pipes Ltd., a company spokeswoman told AMM.
The spokeswoman said the transaction, completed in late May, was valued at less than $10 million, declining to give an exact price.
Carthage, Mo.-based Leggett & Platt purchased Western Pneumatic Tube Holding LLC in January 2012, expanding into the aerospace end market with the production of alloy, stainless and titanium tubing. The recent purchase of David Hartwhich provides value-added services for aluminum alloy, stainless steel, titanium and other tubing supplied to the aerospace industryrepresents a "further strategic commitment to the aerospace industry," the spokeswoman said.
"Western Tube started to take us into a meaningfully different direction in terms of end markets ... (Sales) were sub-$60 million (when we bought it), last year it was $65 million, this year itll be north of that, approaching $70 million," she added. "This particular platform is one that we are very excited about."