Shearman & Sterling advised B/E Aerospace on the recently completed spin-off of KLX Inc. (“KLX”). B/E Aerospace distributed all outstanding shares of KLX common stock to B/E Aerospace shareholders at a distribution ratio of one share of KLX common stock for every two shares of B/E Aerospace common stock held on the December 5, 2014 record date. Starting December 17, 2014, KLX common stock will trade on NASDAQ under the ticker symbol "KLXI".
B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. B/E Aerospace also provides cabin interior reconfiguration, program management and certification services.
KLX Inc., through its two operating segments, provides mission-critical products and complex logistical solutions to support its customers’ high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. The Aerospace Solutions Group is the world’s leading distributor and value-added service provider of aerospace fasteners and consumables, offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. The Energy Services Group provides services and products for the oil and gas industry. Principal services and related rental equipment include wireline and fishing (retrieval) services and equipment, pressure control and rental equipment including frac stacks, accommodations and surface rentals and other related components.