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LMI Aerospace to Buy D3 Technologies

D3 Technologies Inc., a San Diego-based design and engineering firm in the aircraft industry, said June 18 that it has agreed to be acquired by LMI Aerospace Inc., a St. Louis company that provides components and kits to the aerospace, defense and technologies industries, for $65 million in cash.

D3 had $64 million in revenue last year and earnings before interest, taxes and depreciation of $9 million. It has 350 employees, including 310 engineers.

Founded in 1982, D3 also has offices in Seattle, Dallas and Greenville, S.C. The company performs structure and sub-structure design work for manufacturers of commercial, business and military aircraft. Clients include Boeing, Spirit AeroSystems, Vought Aircraft, Airbus North America and Lockheed Martin. D3 has been a key player on Lockheed Martin’s Joint Strike Fighter program, and for Boeing 747-8, 777 and 787 programs, the companies said in a joint press statement.

The transaction is expected to close in the third quarter and to be accretive to LMI’s per-share earnings in 2008.

, Mike Allen

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