Hello, Guest!
  • Thursday, November 21, 2024

OpenGate Capital Closes Buy of 2 Transdigm Businesses

OpenGate Capital has wrapped up its $200 million acquisition of the ScioTeq and Treality Simulation Visual Systems businesses from TransDigm Group (NYSE: TDG).

TransDigm first announced in March the transaction to sell its two units that offer visualization platforms intended for defense, security and air traffic control applications.

The Cleveland-based aircraft components supplier said Wednesday the financial results for the businesses sold to the private equity firm are still “classified as continuing operations in accordance with U.S. generally accepted accounting principles.”

ScioTeq and Treality revenues hit $135 million for their fiscal year ended September 30, 2020. Both entities were part of Transdigm’s $4 billion purchase of Esterline Technologies in March 2019.

Video of the Day

Related Articles

TransDigm Strikes $965M Cash Deal for Cobham Aero Connectivity; Kevin Stein Quoted M&A Activity

TransDigm Strikes $965M Cash Deal for Cobham Aero Connectivity; Kevin Stein Quoted

TransDigm Group (NYSE: TDG) has agreed to acquire a Cobham subsidiary focused on providing antennas and radio systems for the aerospace end market. TransDigm will use existing cash on hand to finance the $965M acquisition of Cobham Aero Connectivity and expects the transaction to close during the third quarter of calendar year 2021, subject to regulatory clearances and other customary closing conditions.

TransDigm Closes $4B Esterline Purchase M&A Activity

TransDigm Closes $4B Esterline Purchase

TransDigm Group (NYSE: TDG) has concluded its approximately $4B purchase of Esterline Technologies (NYSE: ESL) in a push to expand its proprietary and sole-source content platform for defense and aerospace sectors. TransDigm initially announced the deal on Oct. 10 and the company said Thursday Esterline shareholders will get $122.50 in cash per share under the deal, which