Boeing to buy aerospace parts maker KLX for about $3.25 billion

The purchase underscores Boeing's CEO Dennis Muilenburg's bid to extend Boeing's reach into profitable business of providing maintenance, spare parts other services

Boeing agreed to acquire KLX for about $3.25 billion as the world’s largest planemaker bolsters a fast-growing new division that offers maintenance, spare parts and other services to airlines.

The aircraft maker will pay $63 a share, contingent on the separation of KLX’s Energy Services Group, Boeing said Tuesday. The planemaker also will assume about $1 billion in net debt. KLX said it plans to spin off the energy operation to shareholders. The deal is the largest struck so far by CEO Dennis Muilenburg, who has been scouting acquisitions that would more than triple sales at Boeing’s services business.

Boeing has held