Leggett & Platt Sells Aerospace Products Group

By Bobby Samwell • Wednesday, April 02 15:17 • Permanent Link

Leggett & Platt has announced the sale of its aerospace products group to affiliated funds managed by Tinicum Incorporated for a cash purchase price of $285 million. The after-tax cash proceeds from this sale are expected to be approximately $240 million. In 2024, the aerospace products group had net trade sales of $190 million. The business comprises seven manufacturing facilities in the U.S., UK, and France and approximately 700 employees.

This divestiture is part of Leggett & Platt's ongoing strategic business review to determine the right long-term fit for the company. Following the transaction's closure, the company will issue its 2025 full-year guidance, excluding the aerospace products group.

Lazard is serving as the exclusive financial advisor, while Freshfields is serving as the legal advisor to Leggett & Platt in this transaction. Following these announcements, the company's shares moved 6.2%, and are now trading at a price of $8.35. Check out the company's full 8-K submission here.

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