TransDigm Group (NYSE: TDG) has agreed to acquire the electron device business of Communications & Power Industries, a portfolio company of TJC, in a cash transaction worth approximately $1.39 billion.
The CPI subsidiary has 900 employees and manufactures proprietary electronic components and subsystems for various aerospace and defense platforms, TransDigm said Thursday.
The business generated approximately $300 million in revenue for its fiscal year ended Sept. 30, with most of the income coming from its proprietary products.
“The vast majority of the company’s revenues come from highly engineered, proprietary products with substantial aftermarket content. The company has established positions across a diverse range of new and existing platforms within the broader aerospace and defense industry,” said Kevin Stein, president and CEO of TransDigm.
TransDigm expects to close the transaction by the end of its third fiscal quarter of 2024, subject to regulatory approvals and customary closing conditions.
The deal comes six months after TransDigm acquired Calspan, an aerospace and defense systems testing company, for $725 million.
