CLEVELAND, April 24, 2018 /PRNewswire/ -- TransDigm Group
Incorporated (NYSE: TDG) announced today that it has completed the
acquisition of Extant Components Group Holdings, Inc. ("Extant"), a
portfolio company of Warburg Pincus LLC, for
approximately $525 million. TransDigm financed the acquisition
with cash on hand. The acquisition of Extant was previously
announced on March 19, 2018.
Located in Melbourne, Florida,
Extant provides a broad range of proprietary aftermarket products
and repair and overhaul services to the aerospace and defense end
markets. The company currently owns or exclusively licenses in
excess of 2,500 assemblies and sub-assemblies on over 70 active
platforms. Extant employs more than 170 people and expects to
generate revenue of approximately $85
million for the fiscal year ending September 2018. Extant derives 80% of its revenue
from the aftermarket, with nearly all of the revenue from
proprietary and sole source products. The revenue is generated from
a mix of military and commercial applications, with the majority of
the revenue coming from the military end market.
About TransDigm
TransDigm Group Incorporated, 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, NiCad batteries and chargers, engineered latching and
locking devices, rods and locking devices, engineered connectors
and elastomers, cockpit security components and systems,
specialized cockpit displays, aircraft audio systems, specialized
lavatory components, seatbelts and safety restraints, engineered
interior surfaces and related components, lighting and control
technology, military personnel parachutes, high performance hoists,
winches and lifting devices, and cargo loading, handling and
delivery systems.
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
which could affect TransDigm's actual results and could cause its
actual results to differ materially from those expressed or implied
in any forward-looking statements made by, or on behalf of,
TransDigm. These risks and uncertainties include but are not
limited to failure to complete or successfully integrate the
acquisition; that the acquired business does not perform in
accordance with our expectations; and other factors. Further
information regarding important factors that could cause actual
results to differ materially from projected results can be found in
TransDigm's Annual Report on Form 10-K and other reports that
TransDigm or its subsidiaries have filed with the Securities and
Exchange Commission. Except as required by law, TransDigm
undertakes no obligation to revise or update the forward-looking
statements contained in this press release.
Contact:
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Liza
Sabol
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Investor
Relations
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(216)
706-2945
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ir@transdigm.com
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