Hogan Lovells has advised Astronics, a provider of advanced technologies for the global aerospace and defence industries, in relation to the acquisition of French company PGA Electronic.
PGA Electronic designs and manufactures seat motion and lighting systems primarily for business- and first-class aircraft seats and also provides in-flight entertainment and communication systems as well as cabin management systems for private aircraft. This purchase of approximately $28.5m (£18m) will be paid 60 per cent in cash and 40 per cent in Astronics stock. The deal is expected to close before the year-end, subject to customary closing conditions.
The Hogan Lovells team in charge of this transaction was led by corporate partner Jean-Marc Franceschi, who worked with associates Arnaud Deparday and Audrey Distler (corporate/M&A), partner Jean-Marc Albiol and associate Christophe Cougnaud (employment law), partner Mikael Salmela and Jessica Garestier (commercial contracts), counsel Laure Nguyen (real estate), partner Pierre de Montalembert and senior associate Charles Saumon (competition) and associate Loïc Lemercier (intellectual property). EY advised on the tax aspects of the deal.
Three sellers were advised by Daniel Pétard from LMP Avocats and one by Stéphanie Roy from de Gaulle Fleurance. Robert Flanigan from Mayer Brown advised on some aspects of US law.