Safran Electronics and Defense | Stephens

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Financial Advisor

Safran Electronics and Defense

Value Not Disclosed 04/15/2022 Aerospace & Defense Complete
Private Companies
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Transaction Details

  • On April 15, 2022, Safran Electronics and Defense completed the sale of Pioneer Aerospace Corporation (“Pioneer”) to Aviation Safety Resources, Inc. (“ASR”)
  • Larry Williams, ASR’s president and CEO, commented, “The Pioneer acquisition is a strong strategic fit with ASR and a key step in ASR’s mission to grow as a global leader in the industry. Pioneer’s employees include some of the top talents in the industry and their history and reputation for quality and innovation make Pioneer a powerful addition to ASR.”
  • With five US-based locations, the enlarged ASR-Pioneer will produce leading-edge technologies to address the requirements of the parachute, aircraft, defense, space, and A/UAM markets successfully now and into the future

About the company

Pioneer Aerospace Corporation, a subsidiary of Safran Electronics and Defense

Pioneer Aerospace Corporation began manufacturing parachutes for the US Military in 1938 as a division of the Cheney Silk Mills and is responsible for making the first synthetic parachute out of nylon, which the company supplied to Allied soldiers in WWII. Pioneer has designed and manufactured recovery systems for many NASA missions and is a world-renowned supplier of Aerial Delivery Systems. Pioneer was acquired by Safran in 2018 as part of the acquisition of Zodiac Aerospace.

Aviation Safety Resources, Inc.

Aviation Safety Resources, Inc., based in Nicholasville, Ky., designs, tests, and produces whole aircraft emergency recovery parachute systems designed to safely bring down the entire aircraft and its occupants in the event of an in-air emergency. Staffed by a team of experienced aviation professionals, ASR is the first to offer the next generation of whole-aircraft recovery systems and the first system specifically designed for the vertical take-off and landing (VTOL) vehicles of Advanced/Urban Air Mobility (A/UAM).

Sources: ASR press release.
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