Elbit Systems Completes Acquisition Of M7 Aerospace

Elbit Systems of America (ESA), the wholly-owned U.S. subsidiary of Israel-based Elbit Systems, acquired 100% of M7 Aerospace LP (M7 Aerospace) in a $85 million all cash transaction earlier this month.

M7 Aerospace, which is based in San Antonio, will join ESA as a part of the company's offerings of comprehensive large fleet, multi-site contractor logistics support, life cycle contractors and depot support for fleets operated by the United States military. M7 Aerospace will also bring world class capabilities in avionics upgrades, special mission modifications, reset programs and airframe modification and repair for numerous aircraft platforms operated by both commercial and military customers.

"We are pleased to take this important step towards enhancing our support solutions capabilities in the U.S. market. This acquisition complements the breadth and depth of ESA's experience in the support and maintenance of aircraft both domestically and world-wide, and we hope it will open the door to new customers and projects," said Elbit Systems of America, President and CEO, Raanan Horowitz. "We are proud to welcome the employees of M7 Aerospace to the ESA team. Their skills and experience provide an extremely valuable asset to our organization," he added.

The San Antonio Express News reports that the company is expected to grow under the Elbit Systems umbrella, though no timeline was given by the new owners. M-7's roots extend back to Fairchild Aircraft Company, and is based at San Antonio International Airport. It's primary business was in the defense sector, modernizing C-23 Sherpa aircraft for the Army, but the new ownership may have the company looking more to civilian aviation. It employs about 550 people in the San Antonio region.

FMI: www.elbitsystems.com