CLEVELAND, March 26, 2015 /PRNewswire/ -- TransDigm Group
Incorporated (NYSE: TDG) announced today that it has completed the
acquisition of the Telair Cargo Group of businesses ("Telair"),
from AAR CORP. (NYSE: AIR), for a total purchase price of
approximately $725 million in cash,
subject to adjustment. TransDigm financed the acquisition through a
combination of existing cash on hand and borrowing of $75 million under its existing revolving credit
facility. The acquisition was previously announced on February 23, 2015.
Telair is a global leader in aerospace on-board cargo loading
and handling, restraint systems and unit load devices for a variety
of commercial and military platforms with positions on a wide range
of new and existing aircraft. The business consists of three major
operating units, Telair International GmbH, Nordisk Aviation
Products and Telair US LLC. Telair revenues are anticipated
to be about $300 million with EBITDA
margins approaching 20% for fiscal year ending May 2015.
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.
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
which could affect TransDigm Group's actual results and could cause
its 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 failure to complete or successfully integrate the
acquisition; that the acquired business does not perform in
accordance with our expectations; and other factors. Further
information regarding 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 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:
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Liza Sabol
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Investor
Relations
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(216)
706-2945
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ir@transdigm.com
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SOURCE TransDigm Group Incorporated