Cleveland-based aerospace components manufacturer TransDigm (NYSE: TDG) has closed its $1 billion cash acquisition of ILC Holdings and its subsidiary Data Device Corp. from New York-based investment firm Behrman Capital.
TransDigm first announced the deal May 24 and the company said Thursday it used net proceeds from a term loan and a sale of notes to finance the transaction.
Data Device Corp. produces and supplies aircraft databus and motion and solid-state power control systems to the military, space and industrial sectors.
DDC projects its full 2016 revenue to exceed $200 million, with nearly 75 percent of the company’s annual sales are generated in the defense market and the rest in the commercial transportation market.
TransDigm manufactures various aviation components such as mechanical and electro-mechanical actuators, engine technology, specialized pumps and valves, cockpit displays, military personnel parachutes, power conditioning devices, interior hoists and cargo handling and delivery equipment.
