WASHINGTON (dpa-AFX) - TransDigm Group Incorporated (TDG), an aircraft components maker, said on Wednesday that it has inked a deal to acquire Stellant Systems, Inc., a portfolio company of Arlington Capital Partners, for around $960 million in cash.
Mike Lisman, CEO of TransDigm, said: 'We are excited to have an agreement to acquire Stellant. The company's highly engineered, proprietary products generate significant aftermarket revenue and fit well with our long-standing business strategy.We expect this acquisition to create equity value in-line with our long-term private equity-like return objectives.'
Stellant, headquartered in California, is a maker of high-power electronic components and subsystems for the aerospace and defense end market.
Stellant is expected to report around $300 million in revenue for the year ending on December 31.
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