Aircraft parts maker TransDigm to buy ILC Holdings for $1 billion
25 May 2016
Aircraft components maker TransDigm Group Inc said on Tuesday it would buy ILC Holdings Inc from private equity firm Behrman Capital for $1 billion to expand its spare parts business.
ILC is the parent of Data Device Corp (DDC), which supplies power control and databus products to the global military and commercial aerospace markets.
Databuses help connect internal components of a computer.
DDC's products are used in aircraft such as such as F-18 fighters, C-130 Hercules transports, Boeing's (BA.N) 787 and 777X passenger planes and Airbus's (AIR.PA) A350XWB.
The company's main plant is in Bohemia, New York.
TransDigm said DDC is expected to have revenue of more than $200 million in 2016, with about 75 percent coming from the defense market and the rest from the commercial aircraft market.
Cleveland-based TransDigm makes cockpit security components and systems, aircraft audio systems and ignition systems for military and commercial aircraft.
The deal is expected to close before the end of fiscal 2016, TransDigm said.
Source : reuters.com