“Boeing Co. is nearing a deal to buy aerospace-parts specialist KLX Inc. as part of its expansion into the aircraft-services business,” the Wall Street Journal reports.

Citing “people familiar with the matter,” the Journal said Boeing and KLX – the former B/E Aerospace fastener division – are expected to announce a deal Monday.

Boeing reportedly has competed against at least one private-equity firm to secure a deal with KLX.

“The proposed KLX deal would be the largest acquisition so far in Boeing Chief Executive Dennis Muilenburg’s ambitious plan to triple sales from services to as much as $50 billion within a decade,” the Journal reports.

Since announcing on December 22 that it had initiated a sale process, KLX shares have risen 27% to $79.98.

During 2017, KLX Aerospace Solutions Group segment (ASG) revenues – primarily from fasteners – rose 5.9% to $1.42 billion, as revenues from both commercial aerospace manufacturing and aftermarket customers increased by approximately 6%. ASG operating earnings increased 8.1% to $238.5 million.

Consolidated KLX revenues during 2017 rose 16.5% to $1.74 billion, boosted by Energy Services Group sales, which more than doubled to $320.6 million. Overall operating earnings jumped 67% to $216.3 million.

KLX forecasts 2018 revenues to increase 15% to $2 billion.

Wellington, FL-based KLX supplies fasteners, bearings and other parts for commercial, military and business jets and provides logistics services. It also provides oil-field services and rental equipment. Web: KLX.com