Providing yet another indication that the interiors industry is in the midst of consolidating Zodiac Aerospace has acquired Greenpoint Technologies, a widebody VIP cabin interiors specialist and Boeing Business Jet (BBJ) Completion Center.
The announcement comes just days after Zodiac rival B/E Aerospace acquired aircraft lighting specialist Emteq and helicopter seat maker Fischer + Entwicklungen. B/E is also currently undergoing a strategic review, which could see it sell certain business units.
The business aviation community is well aware of Greenpoint’s proficiencies. But even some regular industry observers might be familiar with the name; in January, the Kirkland, Washington-based company elicited great excitement when it announced that its Boeing 747-8 elevator has received a patent, and Reddit picked up on the story.
Greenpoint, which has a subsidiary in Denton, Texas, employs 450 people and has annual revenues of around $150 million.
It will “further enhance Zodiac Aerospace’s competencies in cabin interiors in the domain of VIP and VVIP cabin interiors”, says Zodiac in a statement. Zodiac, meanwhile, will “support Greenpoint’s development and bring its skills in cabin certification and its know-how in design and manufacturing of interiors elements (monuments, galleys, seats, lighting,…)” on board, adds the firm.
An industry insider notes, “The industry is definitely in a cycle of consolidation. B/E may be ahead of the pack, thinking of spinning off parts of their business while acquiring other parts. It’s interesting to watch. Also, consolidation always creates friction when operations are merged…which opens the door for smaller players to enter the market. A good case study would be inflight entertainment firm The IMS Company. They came out of the loose-equipment corner, offered a new product (without having any legacy issues like Panasonic, Thales) and got acquired by Zodiac.”