2020-11-24 09:19:20 TDG TransDigm
11/24/20 11/2409:19 11/24/2009:19 | TransDigm provides update on potential divestitures of Esterline operating unitsThe operating units under consideration for potential divestiture were acquired by TransDigm in March 2019 as part of the Esterline Technologies acquisition. Since the acquisition, these businesses have functioned as independent operating units under TransDigm's ownership. These operating units primarily serve the defense end market and have combined annual revenue of $250M-$300M. TransDigm is now working with outside advisors to assist in the process of identifying and approaching potential buyers. At this time, the timeline for any announced divestitures remains uncertain. W. Nicholas Howley, TransDigm's Executive Chairman, stated, "We are pleased to announce the acquisition of Cobham Aero Connectivity. This business fits well with our long-standing strategy. The CAC products are almost all proprietary and over 70% of CAC's revenue comes from the aftermarket. The company is primarily a defense business. The businesses we are considering for divestiture are also good businesses, but do not fit as well with our long-standing proprietary and aftermarket strategy." | |
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