CLEVELAND, May 22, 2024 /PRNewswire/ -- TransDigm Group
Incorporated (NYSE: TDG), today announced that it has completed the
acquisition of SEI Industries LTD ("SEI" or "the Company").
SEI Industries, headquartered in Delta, British Columbia, is a leading provider
of highly engineered products for aerial firefighting and other
liquid transportation solutions, such as remote refueling. Their
innovative and world renowned Bambi Bucket®, is a
proprietary collapsible firefighting bucket used across the globe
to combat forest fires, among other applications. SEI provides
exceptional aftermarket support of the Bambi Bucket®
through its 12 international repair facilities. SEI's revenues are
derived from both the commercial and defense aerospace end
markets, with about 85% of the revenues coming from the
aftermarket. The Company employs approximately 80 people and is
expected to generate approximately $30
million in revenue for the calendar year ending December 31, 2024.
Kevin Stein, TransDigm's
President and Chief Executive Officer, stated, "We are excited
about the acquisition of SEI Industries. SEI is a leader in
products for firefighting helicopters and other liquid
transportation solutions. The Company is widely known in the
industry for its highly engineered and specialized products, which
fit well with our proprietary and aftermarket-focused value
generation strategy. SEI's innovative products and excellent
customer service at its global repair centers have created a strong
portfolio of established, long-term customers. As with all
TransDigm acquisitions, we expect the SEI acquisition to create
equity value in-line with our long-term private equity-like return
objectives."
The acquisition was financed through existing cash on hand.
About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries, is a
leading global designer, producer and supplier of highly engineered
aircraft components for use on nearly all commercial and military
aircraft in service today. Major product offerings, substantially
all of which are ultimately provided to end-users in the aerospace
industry, include mechanical/electro-mechanical actuators and
controls, ignition systems and engine technology, specialized pumps
and valves, power conditioning devices, specialized AC/DC electric
motors and generators, batteries and chargers, engineered latching
and locking devices, engineered rods, engineered connectors and
elastomer sealing solutions, databus and power controls, cockpit
security components and systems, specialized and advanced cockpit
displays, engineered audio, radio and antenna systems, specialized
lavatory components, seat belts and safety restraints, engineered
and customized interior surfaces and related components, advanced
sensor products, switches and relay panels, thermal protection and
insulation, lighting and control technology, parachutes, high
performance hoists, winches and lifting devices, and cargo loading,
handling and delivery systems and specialized flight, wind tunnel
and jet engine testing services and equipment.
Forward-Looking Statements
Statements in this press release that are not historical facts
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "believe,"
"may," "will," "should," "expect," "intend," "plan," "predict,"
"anticipate," "estimate," or "continue" and other words and terms
of similar meaning may identify forward-looking statements. All
forward-looking statements involve risks and uncertainties that
could cause TransDigm Group's actual results to differ materially
from those expressed or implied in any forward-looking statements
made by, or on behalf of, TransDigm Group. These risks and
uncertainties include but are not limited to: the sensitivity of
our business to the number of flight hours that our customers'
planes spend aloft and our customers' profitability, both of which
are affected by general economic conditions; supply chain
constraints; increases in raw material costs, taxes and labor costs
that cannot be recovered in product pricing; failure to complete or
successfully integrate acquisitions; our indebtedness; current and
future geopolitical or other worldwide events, including, without
limitation, wars or conflicts and public health crises;
cybersecurity threats; risks related to the transition or physical
impacts of climate change and other natural disasters or meeting
sustainability-related voluntary goals or regulatory requirements;
our reliance on certain customers; the
United States ("U.S.") defense budget and risks associated
with being a government supplier including government audits and
investigations; failure to maintain government or industry
approvals; risks related to changes in laws and regulations,
including increases in compliance costs; potential environmental
liabilities; liabilities arising in connection with litigation;
risks and costs associated with our international sales and
operations; and other factors. Further information regarding the
important factors that could cause actual results to differ
materially from projected results can be found in TransDigm Group's
most recent Annual Report on Form 10-K and other reports that
TransDigm Group or its subsidiaries have filed with the Securities
and Exchange Commission. Except as required by law, TransDigm Group
undertakes no obligation to revise or update the forward-looking
statements contained in this press release.
Contact:
Investor Relations
(216) 706-2945
ir@transdigm.com
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