Carthage, Missouri-based diversified manufacturer Leggett & Platt announced Tuesday that it has signed a definitive agreement to acquire Western Pneumatic Tube Holding, LLC. Western Pneumatic Tube is a welded tubing manufacturer based in Kirkland, Washington, with an additional facility located near San Diego, California, that provides integral components for aircraft systems for the aerospace industry.
The transaction will be a $188 million cash purchase subject to customary closing conditions and regulatory clearance. The acquisition will likely close on January 31, 2012 and will be a new stand-alone business within Leggett & Platt's Industrial Materials segment.