Freshfields advises KLX Inc. on the sale of its Aerospace Solutions Group to The Boeing Company and the spin-off of its Energy Services Group business to KLX shareholdersFreshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised KLX Inc. on the sale of its Aerospace Solutions Group to The Boeing Company and the spin-off of its Energy Services Group (ESG) business to KLX shareholders.
KLX is a leading distributor and value-added service provider of aerospace fasteners and consumables, and a provider of services and products to the oil and gas exploration and production industry. The transaction is valued at approximately $4.25 billion. Completion of the transaction is subject to the divestment of KLX’s Energy Services Group in a spin-off to KLX’s shareholders. The sale is also subject to customary closing conditions, including shareholder and regulatory approval.
The Freshfields team was led by New York partners Valerie Ford Jacob and Omar Pringle and included partners Menachem Kaplan, Howard Klein, Michael Levitt, Peter Lyons, Linda Martin, Alan Ryan, Robert Scarborough and Paul Yde.