TransDigm To Buy ILC Holdings For Total Purchase Price Of $1.0 Bln

(RTTNews) - TransDigm Group Inc. (TDG) announced a definitive agreement to purchase ILC Holdings, Inc., the parent company of Data Device Corporation or "DDC", from Behrman Capital for a total purchase price of $1.0 billion in cash.

TransDigm expects to finance the acquisition through a combination of cash on hand, existing availability under our revolving credit facility and new debt.

DDC revenues are anticipated to be over $200 million for the fiscal year ending December 2016 with approximately 75% coming from the defense market and the remainder primarily from the commercial transport market. Approximately 70% of revenue is derived from the aftermarket, with nearly all of the revenue from proprietary and sole source products. Approximately 45% of revenue is derived from customers outside of the United States.

DDC is a leading supplier of databus and power controls and related products that are used primarily in military avionics, commercial aerospace and space applications.

The acquisition, which is expected to close before the end of fiscal 2016, is subject to regulatory approvals and customary closing conditions.