CLEVELAND, May 28, 2024
/PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), today
announced it has entered into a definitive agreement to acquire
Raptor Labs Holdco, LLC ("Raptor Scientific" or "the Company"), a
portfolio company of L Squared Capital Partners, for approximately
$655 million in cash, including
certain tax benefits.
Raptor Scientific is a leading global manufacturer of complex
test and measurement solutions primarily serving the aerospace and
defense end markets. The Company's products are highly engineered,
proprietary components with significant aftermarket content and a
strong presence across major aerospace and defense platforms.
Nearly all of Raptor Scientific's revenue is generated from
proprietary products. The Company is expected to generate
approximately $90 million in revenue
for the calendar year ending December 31,
2024. The Company employs approximately 170 people and has
manufacturing locations in Livermore,
CA; Woodland Hills, CA;
Berlin, CT; Huntsville, AL; and Peterborough, NH.
Kevin Stein, TransDigm's
President and Chief Executive Officer, stated, "We are excited
about the acquisition of Raptor Scientific. The Company's
comprehensive proprietary and highly engineered product portfolio
of aerospace and defense testing and instrumentation solutions fits
well with our value generation strategy. Raptor Scientific's test
and measurement solutions are used on a diverse range of new and
existing aircraft platforms, and the Company has an outstanding
reputation with its customers. As with all TransDigm acquisitions,
we expect this acquisition to create equity value in-line with our
long-term private equity-like return objectives."
The acquisition is subject to regulatory approvals in
the United States and customary
closing conditions. The acquisition is expected to be financed
through existing cash on hand.
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, engineered audio, radio and antenna 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 and specialized flight, wind tunnel
and jet engine testing services and equipment.
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 sensitivity of
our business to the number of flight hours that our customers'
planes spend aloft and our customers' profitability, both of which
are affected by general economic conditions; supply chain
constraints; increases in raw material costs, taxes and labor costs
that cannot be recovered in product pricing; failure to complete or
successfully integrate acquisitions; our indebtedness; current and
future geopolitical or other worldwide events, including, without
limitation, wars or conflicts and public health crises;
cybersecurity threats; risks related to the transition or physical
impacts of climate change and other natural disasters or meeting
sustainability-related voluntary goals or regulatory requirements;
our reliance on certain customers; the
United States ("U.S.") defense budget and risks associated
with being a government supplier including government audits and
investigations; failure to maintain government or industry
approvals; risks related to changes in laws and regulations,
including increases in compliance costs; potential environmental
liabilities; liabilities arising in connection with litigation;
risks and costs associated with our international sales and
operations; and other 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
most recent Annual Report on Form 10-K 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/transdigm-announces-acquisition-of-raptor-scientific-302156644.html
SOURCE TransDigm Group Inc.