WASHINGTON (dpa-AFX) - TransDigm Group Incorporated (TDG), a provider of highly engineered aerospace components, and Servotronics, Inc. (SVT) Monday said that TransDigm has agreed to acquire Servotronics, in a transaction valued about $110 million, in cash.
The purchase price of $38.50 per share represents a premium of about 274% to Servotronics' closing price on May 16.
Upon closing the deal, Servotronics, a maker of servo-control components and other advanced technology products, will become an indirect unit of TransDigm.
Under the agreement, a subsidiary of TransDigm is expected to commence a cash tender offer for all the outstanding shares of Servotronics by June 9, 2025. Remaining shares that are not acquired in the offer will be purchased by a merger at the same price as the tender offer.
For the year ended December 31, 2024, Servotronics had generated revenue of nearly $45 million.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
