French company buying Collins flight actuator business

Safran, a France-based international aerospace company, has announced it is buying a flight control company from Collins Aerospace in a deal estimated at $1.8 billion.

The all-cash deal to buy Collins’ actuation and flight control business marks the engine and aircraft equipment maker’s biggest acquisition since the 2018 purchase of seat maker Zodiac, Reuters reported.

Actuators convert electronic instructions from the cockpit to the physical movement of parts that control aircraft, such as providing extra lift during landing, Reuters reported.

The deal will have no impact on Collins Aerospace’s operations in Iowa, according to a company spokesperson.

Safran has around 3,700 employees in eight facilities in France, the United Kingdom, Italy and Asia.

The acquisition is expected to generate approximately $1.5 billion in sales, the company said in a news release.

The transaction will “position us extremely well for next-generation platforms as the segments move toward increased electrification,” Safran CEO Olivier Andries said in the news release. “The business is a perfect fit with both our product portfolio and our DNA with leading technologies, recurring aftermarket sales and profitable growth.”

Safran said the purchase would boost earnings per share from year one and that it expected the final closing to take up to 18 months. Collins, it said, would remain a key customer for the business.