JBT Divests AeroTech Business To Oshkosh For $800M
Portfolio Pulse from Shivani Kumaresan
John Bean Technologies (JBT) has agreed to sell its AeroTech business to Oshkosh Corporation (OSK) for $800 million in an all-cash transaction. JBT plans to use the proceeds for debt repayment and FoodTech growth. The deal is expected to close in Q3 2023.
May 30, 2023 | 12:22 pm
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POSITIVE IMPACT
JBT is selling its AeroTech business to OSK for $800M, using the proceeds for debt repayment and FoodTech growth. The deal supports JBT's strategy to become a pure-play food and beverage solutions provider.
The sale of AeroTech allows JBT to focus on its core food and beverage solutions business, which is expected to have a positive impact on its growth and margins. The proceeds will be used for debt repayment and FoodTech growth, which should improve the company's financial position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Oshkosh Corporation is acquiring JBT's AeroTech business for $800M. The acquisition is expected to be accretive to growth and margins and deliver solid recurring revenue from aftermarket parts and services offerings.
The acquisition of AeroTech is expected to be accretive to OSK's growth and margins, as well as deliver solid recurring revenue from aftermarket parts and services offerings. This should have a positive impact on OSK's overall financial performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100