John Bean Technologies said Friday it has agreed to acquire Aircraft Maintenance Support Services, a privately held manufacturer of military aviation equipment based in the UK, for GBP10 million ($12.7 million). The deal is expected to close during the third quarter of 2017. “AMSS provides our AeroTech segment a focused strategic investment that will enhance our military offerings and provide us with expanded access to foreign militaries with our existing products,” said CEO Tom Giacomini.
AMSS is expected to add annual revenue of approximately $20 million. JBT said it expects earnings dilution of approximately $0.03 per share in 2017, including $0.01 in the second quarter, and accretion of approximately $0.04 per share in 2018, from the transaction.