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TransDigm Group Incorporated
TDG announced today that it 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 or
GPECS), 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, located in West Hartford, Connecticut, 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% of the revenue.
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