Aerospace component maker TransDigm Group Inc. has agreed to buy rival Breeze-Eastern Corp. in a transaction valued at $206 million in cash. TransDigm agreed to pay $19.61 per share for Breeze-Eastern. The deal includes a 40-day go-shop provision. Breeze-Eastern designs and manufactures lifting and pulling devices for military and civilian aircraft. The company, which is headquartered in Whippany, N.J. and also has a facility in Fredericksburg, Va., has approximately 172 employees. Its products include rescue hoists, winches and cargo hooks, and weapons-handling systems. The company’s customers include Sikorsky, Boeing, AgustaWestland, Airbus and the U.S. government. Breeze-Eastern’s products are found on the UH-60 Blackhawk, CH-47 Chinook and HH-65 Dolphin, among others. About 75% of Breeze-Eastern’s total revenue comes from military markets. The acquisition will be funded with TransDigm’s cash on hand and is not subject to any financing condition.
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