CLEVELAND, Jan. 5, 2021 /PRNewswire/ -- TransDigm Group
Incorporated (NYSE: TDG) announced today it has completed
substantially all of its acquisition of Cobham Aero Connectivity
("CAC" or "the Company"). The acquisition of CAC for an
aggregate purchase price of $965
million (including tax benefits to be realized by TransDigm)
was previously announced on November 24,
2020. The acquisition was financed through cash
on hand.
Cobham Aero Connectivity is headquartered in Marlow, UK. CAC is
a leading provider of highly engineered antennas and radios for the
aerospace end market. The products are primarily proprietary with
significant aftermarket content and have a strong presence across
major defense platforms as well as select commercial applications.
The Company generated approximately $225
million in revenue for the fiscal year ended December 31, 2020. Nearly 60% of CAC's
revenue is derived from international sales and over 70% of CAC's
revenue comes from the aftermarket. The Company has a strong
presence across a diverse range of both helicopters and fixed wing
aircraft. The Company operates from two primary facilities in
Marlow, UK and Prescott, Arizona.
CAC employs approximately 760 people.
A portion of the CAC acquisition representing approximately 2%
of the total purchase price remains subject to Finnish regulatory
approval and is expected to close in the coming weeks.
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,
aircraft audio 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.
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 impact that the
COVID-19 pandemic has on the TransDigm Group's business, results of
operations, financial condition and liquidity; the sensitivity of
TransDigm Group's business to the number of flight hours that its
customers' planes spend aloft and its customers' profitability,
both of which are affected by general economic conditions; future
geopolitical or other worldwide events; cyber-security threats and
natural disasters; TransDigm Group's reliance on certain customers;
the U.S. defense budget and risks associated with being a
government supplier including government audits and investigations;
failure to maintain government or industry approvals; failure to
complete or successfully integrate acquisitions; TransDigm Group's
indebtedness; potential environmental liabilities; liabilities
arising in connection with litigation; increases in raw material
costs, taxes and labor costs that cannot be recovered in product
pricing; risks and costs associated with TransDigm Group's
international sales and operations; and other risk 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 Annual Report on Form 10-K for the fiscal year
ended September 30, 2020 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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