Bilzin Sumberg Represents Aero Hardware & Supply, Inc. in the $13.5 Million Acquisition of its Aerospace Parts Division by Satair A/S
Bilzin Sumberg Baena Price & Axelrod LLP announced today that it represented Aero Hardware & Supply, Inc., d/b/a Hydraulic Supply Company, in the assets and operations sale of its aerospace parts division to Satair A/S.
- (1888PressRelease) August 25, 2010 - MIAMI, FL - Bilzin Sumberg Baena Price & Axelrod LLP announced today that it represented Aero Hardware & Supply, Inc., d/b/a Hydraulic Supply Company, a South Florida-based aerospace and hydraulic parts and services supplier, in the assets and operations sale of its aerospace parts division to Satair A/S, (NASDAQ OMX: SAT), a Denmark-based publicly traded global aerospace parts distributor and supply chain services provider. The transaction closed August 1, 2010.
The purchase price for the acquisition was a total of $13.5 million, $8.5 million of which was paid to Aero Hardware in cash at closing. The remaining $5 million was paid by way of a promissory note to be repaid in full on the one-year anniversary of the closing date. As part of the sale, the parties also entered into a long-term lease agreement whereby Satair will continue to operate the acquired assets and operations from their current location at Aero Hardware's Miami-based offices.
The Bilzin Sumberg team representing Aero Hardware & Supply was led by Carlos F. Junco, a partner in the firm's Corporate & Securities Group. Junco's practice focuses on the structuring, negotiation and documentation of domestic and international mergers and acquisitions, including numerous acquisitions involving manufacturers and distributors operating in a variety of industries, as well as joint venturing and other commercial transactions. The team also included Samuel C. Ullman, co-chair of the firm's Tax Group, who advised on certain tax aspects of the transaction, and Julia Kim, an associate in the firm's Corporate & Securities Group.
About Bilzin Sumberg
Bilzin Sumberg Baena Price & Axelrod LLP is a full-service, commercial law firm based in Florida. The firm has extensive experience in the areas of commercial finance, corporate and securities law, environmental law, land use and government relations, litigation, real estate, restructuring and bankruptcy, tax and wealth transfer. For more information, visit www.bilzin.com.
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