TransDigm Group Incorporated (NYSE: TDG) has completed the acquisition of ILC Holdings, Inc., the parent company of Data Device Corporation, from Behrman Capital for a total purchase price of USD1.0 billion in cash, the company said.
TransDigm financed the acquisition with cash proceeds from a recently completed term loan and notes offerings.
DDC is a supplier of databus and power controls and related products that are used primarily in military avionics, commercial aerospace and space applications. The company´s core MIL-STD-1553 databus product line has a large installed base of systems worldwide that spans military and commercial platforms. DDC revenues are anticipated to be over USD200 million for the fiscal year ending December 2016 with approximately 75 percent coming from the defense market and the remainder primarily from the commercial transport market.
TransDigm Group, through its wholly owned subsidiaries, is a global designer, producer and supplier of aircraft components for use on nearly all commercial and military aircraft in service today.