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DTCF Performs Lead Advisory on Sale of C&D Aerospace Group

Deloitte & Touche Corporate Finance

D&TCF: C&D Aerospace

Deloitte & Touche Corporate Finance LLC (DTCF) is pleased to announce its role as exclusive financial advisor to C&D Aerospace Group (C&D) in its sale to Zodiac SA (Zodiac) for a cash purchase price of approximately $600 million.

About C&D and Zodiac
C&D is the largest manufacturer of aircraft interiors in the world (2004 revenues of approximately $400 million), making such products as overhead bins, side panels, reading and emergency lighting, galleys, lavatories and cockpit door security kits. In addition to its primary facilities in Southern California and Washington, C&D’s operations are also located in Canada, Mexico, Brazil, France and England.  Zodiac (Paris: ZC.PA) is a manufacturer of aerospace and marine equipment including aircraft seats and water and waste management systems.  For the twelve months ended 2/28/2005, Zodiac had revenues of $2.34 billion (pre-acquisition).

The Role of DTCF
C&D initially engaged DTCF to evaluate its strategic alternatives by assisting management in the preparation of historical and projected financial information. Based on the work performed during the initial phase, DTCF was then selected to exclusively advise the company through the sale process, which included:

  • Developing an expected range of market value
  • Preparation of due diligence materials
  • Analyzing the strategic fit and financial capabilities of potential acquirers
  • Evaluating the various tactics and strategies available in pursuing a potential sale transaction
  • Serving as lead financial advisor in transaction negotiations

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