Business

October 26, 2012

TransDigm to acquire Goodrich Pump & Engine Control Systems

TransDigm Group Incorporated has entered into a definitive agreement with United Technologies Corporation to acquire the pump & engine control systems business of Goodrich (Goodrich Pump & Engine Control Systems, for approximately $236 million in cash.

The acquisition, subject to regulatory approvals and other customary closing conditions, is expected to close late in the current calendar year or early in 2013.

“GPECS is a long established proprietary business with significant aftermarket content and an outstanding reputation,” said W. Nicholas Howley, chairman and CEO of TransDigm Group. “The highly engineered products are both a good fit with our overall strategy and also allow us to expand our content on a number of substantial engine applications. As with all TransDigm acquisitions, we see opportunities for significant value creation.”

GPECS, located in West Hartford, Conn., manufactures proprietary, highly engineered aerospace fuel systems for the business jet, helicopter, military and commercial marketplace. The major engine platforms include the General Electric T700, the Honeywell T55, the Rolls-Royce M250, the Williams FJ44 family, the Turbomeca Arrius/Arriel, and the Pratt Whitney Canada 210 engines. The Company is expected to have calendar year 2012 revenues of approximately $195 million, with EBITDA roughly in the low teens as a percent of revenue. Aftermarket revenues make up approximately 55 percent of the revenue.

 




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