Leggett & Platt closes sale of Aerospace Products Group

Leggett & Platt announced it successfully completed the sale of its Aerospace Products Group to affiliated funds managed by Tinicum Incorporated. The transaction is expected to result in after-tax proceeds of approximately $250M. Proceeds will be used primarily to pay down debt and strengthen the Company’s balance sheet and leverage ratio. This divestiture was part of the outcome of the strategic business review to identify and focus on businesses that align with the company’s long-term goals. The Aerospace Products Group is a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms and space launch vehicles. The business is comprised of seven manufacturing facilities located in the U.S., UK, and France and approximately 700 employees with net trade sales of $190M in 2024.