UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 14, 2015
TransDigm Group Incorporated
(Exact name of registrant as specified in its charter)
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Delaware |
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001-32833 |
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41-2101738 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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1301 East 9th Street, Suite 3000, Cleveland, Ohio |
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44114 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (216) 706-2960
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. |
Regulation FD Disclosure. |
On May 14, 2015, TransDigm Group Incorporated
(TransDigm Group) issued a press release (the Press Release) announcing that its wholly-owned subsidiary, TransDigm Inc., had (i) successfully completed the previously announced private offering of $450 million aggregate
principal amount of 6.500% Senior Subordinated Notes due 2025, (ii) received the funding of an additional incremental term loan of $1.04 billion and (iii) completed the previously announced purchase of the assets of the aerospace business
of Pexco LLC for approximately $496 million in cash.
A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.
The information in this Current Report on Form 8-K and in the Press Release shall not be deemed filed
for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in filings under the Securities Act.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits
The following exhibit is being furnished with this Current Report on Form 8-K:
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Exhibit Number |
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Description |
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99.1 |
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Press Release |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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TRANSDIGM GROUP INCORPORATED |
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By: |
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/s/ Terrance M. Paradie |
Name: |
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Terrance M. Paradie |
Title: |
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Executive Vice President and Chief
Financial Officer |
Dated: May 14, 2015
EXHIBIT INDEX
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Exhibit
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Description |
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99.1 |
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Press Release. |
Exhibit 99.1
TransDigm Completes Acquisition of Aerospace Business of Pexco LLC,
Successful Notes Offering and Incremental Term Loan
CLEVELAND, May 14, 2015 /PRNewswire / -- TransDigm Group Incorporated (the Company) (NYSE: TDG) announced today that it completed the
acquisition of the assets of the aerospace business of Pexco LLC (Pexco Aerospace), a portfolio company of Odyssey Investment Partners, LLC, for approximately $496 million in cash. The acquisition was previously announced on
April 30, 2015.
Pexco Aerospace is a global leader in the manufacturing of extruded plastic interior parts for use in the commercial aerospace
industry. The business employs approximately 300 people in two locations in Yakima, Washington and Huntington Beach, California. The purchase price includes approximately $160 million of tax benefits to be realized by TransDigm over a 15 year period
beginning in 2015.
The Company also announced today that its wholly-owned subsidiary, TransDigm Inc. received the funding of an additional incremental
term loan of $1.04 billion at a current rate of 3.5% and that it has successfully completed the previously announced private offering of $450 million aggregate principal amount of 6.500% senior subordinated notes due 2025 (the Notes).
The proceeds were used to partially fund the acquisition of Pexco Aerospace, to repay $490 million of previously outstanding term loans under its existing senior secured credit facility, amounts previously drawn under its revolving credit facilities
and for general corporate purposes.
The Notes and related guarantees were offered only to qualified institutional buyers in reliance on the exemption
from registration set forth in Rule 144A under the Securities Act of 1933 (the Securities Act), and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the
Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an
applicable exemption from the Securities Act, applicable state securities or blue sky laws and foreign securities laws.
This press release shall not
constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities mentioned in this press release in any state or foreign jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such state or foreign jurisdiction.
About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer
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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 loading, handling and delivery systems.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties that could cause its actual results to differ materially from those expressed or
implied in any forward-looking statements made by, or on behalf of,the Company. These risks and uncertainties include but are not limited to: the conditions of the debt markets; interest rate changes; the Companys compliance with its debt
covenants; local, regional, national and international economic conditions; the inability to complete or successfully integrate the acquisition; that the expected tax benefits are not realized; that the acquired business does not perform in
accordance with our expectations; and other factors. Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in the Companys Annual Report on Form 10-K and
other reports that the Company or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law, the Company undertakes no obligation to revise or update any forward-looking statements contained in this press
release.
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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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