Summary
TransDigm Group Incorporated (TDG) announced on June 23, 2016, the completion of its acquisition of ILC Holdings, Inc., the parent company of Data Device Corporation ("DDC"), for a total purchase price of $1.0 billion in cash. This acquisition was financed through recently completed term loan and notes offerings, indicating a strategic move to leverage debt financing for growth. The addition of DDC, a specialist in high-reliability, high-performance electronics for the aerospace and defense industry, is expected to enhance TransDigm's existing product portfolio and market position. Investors should note that the purchase agreement was previously disclosed on May 26, 2016, and the closing announcement was made via a furnished 8-K on June 23, 2016. This filing officially confirms the transaction's completion.
Key Highlights
- 1Completion of the acquisition of ILC Holdings, Inc. (parent of Data Device Corporation - DDC) on June 23, 2016.
- 2Total purchase price for DDC was $1.0 billion in cash, subject to adjustment.
- 3The acquisition was financed using cash proceeds from recently completed term loan and notes offerings.
- 4DDC specializes in high-reliability, high-performance electronics for the aerospace and defense sectors.
- 5This acquisition is expected to complement TransDigm's existing product offerings.
- 6Previous disclosure of the purchase agreement on May 26, 2016, and closing announcement on June 23, 2016.