LMI Aerospace to Acquire Valent Aerostructures for $237M

LMI Aerospace, Inc.

, a leading supplier of structural assemblies, kits and components and provider of design engineering services to the aerospace and defense industries, announced today that it has agreed to acquire Valent Aerostructures, LLC ("Valent") for approximately $237 million, plus approximately $9.7 million of certain retained obligations. Headquartered in Kansas City, Missouri, Valent is a leading provider of complex, structural components, major sub-assemblies and machined parts for OEM and Tier 1 airframe manufacturers in the aerospace and defense industries. The company is well-positioned providing significant content for several major commercial, business jet and military platforms, including the Boeing 737, 747-8, 777, 787, V-22 and Gulfstream G650. Like LMI, Valent has established a reputation as a highly regarded supplier, evidenced by recent awards. The Boeing Company has previously awarded Supplier of the Year to both companies. In 2011, Valent won a Spirit AeroSystems Platinum Supplier Award and Aviation Partners Boeing awarded Supplier of the Year to LMI.   Assuming the transaction closes in 2012, LMI is expected to generate over $480 million of revenues based on projected 2013 results of the combined entities. The increased scale, complementary product offerings and enhanced project management capabilities of the