Leggett & Platt Signs Agreement to Sell its Aerospace Products Group

Core Insights - Leggett & Platt has agreed to sell its Aerospace Products Group to Tinicum Incorporated for a cash price of $285 million, with expected after-tax proceeds of approximately$240 million [1][2]. Company Overview - Leggett & Platt is a diversified manufacturer with a history of 142 years, producing a wide range of engineered components and products for homes and automobiles [4]. - The Aerospace Products Group specializes in complex tube and duct assemblies for commercial and military aircraft and space launch vehicles, generating net trade sales of $190 million in 2024 [2]. Transaction Details - The transaction is anticipated to close in 2025, pending regulatory approvals and other customary conditions [1]. - Lazard is acting as the exclusive financial advisor, while Freshfields is the legal advisor for Leggett & Platt in this transaction [3]. Strategic Context - This divestiture is part of Leggett & Platt's ongoing strategic business review to assess long-term business fit [2]. - Full year guidance for 2025, excluding the Aerospace Products Group, will be provided after the transaction closes [3].