Author: Dominique Stump|| Date Published: May 25, 2016
Cleveland-based aircraft component maker TransDigm (NYSE: TDG) has agreed to purchase databus and power control system manufacturer Data Device Corp. and its parent company ILC Holdings from Behrman Capital for approximately $1 billion in a push to add new products for military, space and commercial customers.
Transdigm said Wednesday it expects to close the transaction that is subject to regulatory approvals by the end of this year and will fund the deal with cash on hand, funds from a revolving credit facility and new debt.
Bohemia, New York-headquartered DDC has 650 employees worldwide, expects to generate close to $200 million in revenue this year and records three-fourths of sales in the defense market with the remainder in the commercial transportation sector.
DDC’s MIL-STD-1553 databus product line is deployed on military aircraft such as the F-16, F-18 and F-35 fighter jets; C-130 airlifter; B-1 bomber; and Apache helicopter.
DDC says it derives 70 percent of its revenue from the aftermarket, while non-U.S. business represents 45 percent of total sales.
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Cleveland-based aircraft component maker TransDigm (NYSE: TDG) has agreed to purchase databus and power control system manufacturer Data Device Corp. and its parent company ILC Holdings from Behrman Capital for approximately $1 billion in a push to add new products for military, space and commercial customers.
