TransDigm to acquire Cobham Aero Connectivity for about $965M in cash

TransDigm announced it has entered into a definitive agreement to acquire Cobham Aero Connectivity for approximately $965M in cash, including tax benefits. Additionally, TransDigm provided an update with regard to its previously announced plans to potentially divest a select number of defense-oriented operating units that were acquired as part of the Esterline acquisition. Cobham Aero Connectivity is headquartered in Marlow, UK. The Company is a leading provider of highly engineered antennas and radios for the aerospace end market. The products are primarily proprietary with significant aftermarket content and have a strong presence across major defense platforms as well as select commercial applications. The company is expected to generate approximately $225M in revenue in 2020. Nearly 60% of CAC's revenue is derived from international sales, and the company has a strong presence across a diverse range of both helicopters and fixed wing aircraft. The company operates from two primary facilities in Marlow, UK and Prescott, Arizona. CAC employs approximately 760 people. The acquisition, which is expected to close during the first calendar quarter of 2021, is subject to regulatory approvals and customary closing conditions. The acquisition is expected to be financed through existing cash on hand.