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OpenGate Capital Closes Buy of 2 Transdigm Businesses

OpenGate Capital has wrapped up its $200 million acquisition of the ScioTeq and Treality Simulation Visual Systems businesses from TransDigm Group (NYSE: TDG).

TransDigm first announced in March the transaction to sell its two units that offer visualization platforms intended for defense, security and air traffic control applications.

The Cleveland-based aircraft components supplier said Wednesday the financial results for the businesses sold to the private equity firm are still “classified as continuing operations in accordance with U.S. generally accepted accounting principles.”

ScioTeq and Treality revenues hit $135 million for their fiscal year ended September 30, 2020. Both entities were part of Transdigm’s $4 billion purchase of Esterline Technologies in March 2019.

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