TransDigm completes acquisition of Skandia from Graycliff

TransDigm Group Incorporated (NYSE: TDG) has announced the completion of the acquisition of Skandia Inc. from Graycliff Partners LP, the company said.

Skandia was acquired for a total purchase price of approximately $84 million, including the assumption of debt.

Skandia, headquartered in Davis Junction, Illinois, is a leading provider of highly engineered seating foam, foam fabrication, flammability testing and acoustic solutions for the business jet market.

Annual revenues are approximately $26 million, and the company currently employs 70 people. Nearly 85% of revenues are derived from the business jet market with the remainder from commercial aerospace applications.

Houlihan Lokey served as exclusive financial advisor to Skandia.

TransDigm Group Incorporated, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today.