3 December 2013
TransDigm Group Inc. (NYSE: TDG) and Metalmark Capital reported that TransDigm has agreed to buy Metalmark-owned Airborne Systems Inc., for approximately USD250m in cash.
The acquisition is expected to close by the end of the first quarter of fiscal 2014.
Airborne Systems is an industry leading designer and manufacturer of personnel parachutes, cargo aerial delivery systems, emergency escape systems, naval decoys and other related products. The company´s highly proprietary products have significant sole source positions with the governments of the United States, United Kingdom and over 50 additional nations. The company´s precision-guided cargo parachutes are used for high altitude GPS-driven cargo drops.
TransDigm Group, through its 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.
Metalmark Capital is a private equity firm that invests in targeted sectors, with particular focus and competence in energy and natural resources, industrials and healthcare. Metalmark Capital seeks to build long-term value through active and supportive partnerships with the companies and management teams in which it invests. For more information, visit www.metalmarkcapital.com.