Air transportation equipment provider JBT Corp. this week announced an agreement to acquire Lektro Inc.— a producer of electric support systems — for $48 million.
Chicago-based JBT, which also supplies the food and beverage sector, said the addition of the privately held, Oregon-based manufacturer would enable JBT's AeroTech equipment subsidiary to capitalize on growing demand for emissions-free ground-support equipment.
Company officials added that Lektro’s electric towbarless aircraft pushback tractors would complement JBT’s current products, including diesel tow tractors, deicers, cargo loaders, belt loaders, mobile stairs, pre-conditioned air carts,and ground power units.
Lektro’s current leadership will remain in place, but JBT will lead its operations. Eric Paulson, Lektro’s president, said the deal would help sustain the company’s “momentum in the aircraft ground-support industry.”
The deal is expected to close in the first quarter of the year.The acquisition is expected to add about $35 million in annual revenue to JBT’s bottom line.
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