Quickstep Holdings (ASX:QHL) has agreed to purchase Boeing Defence Australia’s aerospace maintenance, repair and overhaul capability through its wholly-owned subsidiary, Quickstep Aerospace Services.
It will acquire operating assets plus inventories and certain customer contracts for around $2.64 million.
Completion is expected towards the end of 2020 and is subject to Quickstep obtaining the necessary regulatory approvals related to the operation of the facility.
The company expects the acquisition will be earnings per share accretive by year 2.
Shares in Quickstep Holdings (ASX:QHL) are trading 4.94 per cent higher at 9 cents.