Aircraft components designer/supplier TransDigm Group Incorporated (NYSE: TDG) has announced it has entered into a definitive agreement to divest its Esterline Interface Technologies (EIT) group of businesses to a KPS Capital Partners, LP affiliate for approximately USD 190 million, the company said.
EIT was acquired by TransDigm in March 2019 as part of the Esterline Technologies acquisition and is comprised of three distinct businesses including Advanced Input Systems, Gamesman and LRE Medical.
The business is a developer and manufacturer of interface solutions serving leading OEMs in the growing medical, commercial, industrial, diagnostics and gaming end markets and has over 750 employees primarily in the United States, Germany and China.
The divestiture is expected to be completed during the first quarter of our fiscal 2020.
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of aircraft components for use on nearly all commercial and military aircraft.