TransDigm Acquires the Aerospace Business of Franke Aquarotter
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CLEVELAND –Â TransDigm Group Incorporated (NYSE: TDG) announced today that it acquired the aerospace business of Franke Aquarotter GmbH ("the Company") for approximately $75 million in cash on March 31, 2015.
The Company, whose name going forward will be Adams Rite Aerospace GmbH, is located in Ludwigsfelde, Germany and employs approximately 50 people. The Company manufactures proprietary faucets and related products for use on commercial transports and regional jets. Major platforms include the Airbus A320, A330, A380 and Bombardier and Embraer regional jets. Approximately 65% of revenue is derived from the commercial aftermarket and almost all revenue is proprietary and sole source.
W. Nicholas Howley, Chairman and CEO of TransDigm Group Incorporated, stated, "Franke Aquarotter has long been a premier manufacturer of proprietary lavatory products with established positions on high use platforms, significant aftermarket content and an outstanding reputation. The highly engineered products are used on almost every Airbus commercial transport platform. The business fits well with TransDigm and will be combined with our Adams Rite lavatory product line in Fullerton, California. As with all TransDigm acquisitions, we see opportunities for significant value creation through our proven value creation methodology."
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, NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, specialized cockpit displays, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces, lighting and control technology and military personnel parachutes and cargo delivery systems.
Contact:
Liza Sabol
Investor Relations
(216) 706-2945
ir@transdigm.com
SOURCE TransDigm Group
Web Site: http://www.transdigm.com
