CLEVELAND, May 8, 2023 /PRNewswire/ -- TransDigm Group
Incorporated (NYSE: TDG) today announced it has successfully
completed its acquisition of Calspan Corporation ("Calspan" or "the
Company") for approximately $725
million in cash, including certain tax benefits. TransDigm
financed the acquisition through cash on hand. The acquisition of
Calspan was previously announced on March
14, 2023.
Calspan is a leading independent provider of highly engineered
testing and technology development services and systems primarily
for the aerospace & defense industry. Headquartered in
Buffalo, New York, the Company
operates from seven primary facilities across the states of
New York, Virginia, Minnesota and California. The Company's state of the art
transonic wind tunnel in Buffalo, New
York is used across a range of important aftermarket-focused
development activities for both the commercial and defense
aerospace end markets. Calspan employs approximately 625 people and
is expected to generate approximately $200
million in revenue for the calendar year ending December 31, 2023.
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.
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; current
and future geopolitical or other worldwide events; cyber-security
threats, natural disasters and climate change-related events;
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; the ability to successfully
complete the acquisition and integration of Calspan; TransDigm
Group's indebtedness; potential environmental liabilities;
liabilities arising in connection with litigation; climate-related
regulations; 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 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, 2022 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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