KLX Inc. Acquires Herndon Aerospace

KLX Inc., the world's leading distributor and value added service provider of aerospace fasteners and consumables, and a provider of services and products for the oil and gas industry, announced that it has acquired Herndon Aerospace & Defense, LLC ("Herndon"), a leading supply chain management and consumables hardware distributor serving principally military depot aftermarket customers, as well as commercial aerospace aftermarket customers.

Amin Khoury, Chairman and Chief Executive Officer of KLX stated, "The acquisition of Herndon expands our capability to provide comprehensive aftermarket supply chain management solutions to a broader portfolio of aftermarket customers. Herndon's revenues and EBITDA for the year ended December 31, 2015, adjusted to exclude non-recurring costs under the prior ownership, were $132.5 million and $20.3 million, respectively. We expect the integration of the Herndon business into the existing KLX aerospace distribution platform to yield substantial synergies."