(Reuters) – Aerospace and defense industry supplier Esterline Technologies Corp (ESL.N) said it will buy UK-based Racal Acoustics for about 115 million pounds ($170.4 million) to enhance its combat troop support equipment capability.
Esterline said it will acquire Racal, a provider of military communications equipment, from ECI Partners, a UK-based private equity group. Esterline expects to close the deal in 30 to 45 days.
Northwest London-based Racal employs about 200 people, Esterline said in a statement, adding it was advised by Taylor Wessing LLP, Perkins Coie and Jefferies and Co on the deal.
Shares of the Bellevue, Washington-based company closed at $35.60 Monday on the New York Stock Exchange.