After completing all required approval procedures, Safran announced that it has finalised yesterday the acquisition of Goodrich Electrical Power Systems (GEPS), a leading supplier of on-board aerospace electrical power systems. The cash consideration for the transaction amounts to approximately euro 300 million.

GEPS brings new capabilities to Safran’s product offering, including the critical electrical power generation know-how and experience which is the heart of electrical power systems. GEPS will be consolidated within Safran’s existing Aircraft Equipment business with effect from April 1, 2013 and is expected to generate additional revenues of approximately euro 120 million for 9 months in 2013, of which the aftermarket business (spares and MRO services) should contribute half.