M&A Deal Summary

TransDigm Group Acquires Schneller

On September 1, 2011, TransDigm Group acquired aerospace company Schneller from Graham Partners and Goldman Sachs Merchant Banking for 289M USD

Acquisition Highlights
  • This is TransDigm Group’s 2nd transaction in the Aerospace sector.
  • This is TransDigm Group’s 12th largest (disclosed) transaction.
  • This is TransDigm Group’s 4th transaction in the United States.
  • This is TransDigm Group’s 1st transaction in Ohio.

M&A Deal Summary
Date 2011-09-01
Target Schneller
Sector Aerospace
Buyer(s) TransDigm Group
Sellers(s) Graham Partners
Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition
Deal Value 289M USD
Advisor(s) Harris Williams (Financial)

Target

Schneller

Kent, Ohio, United States
Schneller, Inc. designs and manufactures highly engineered laminates, thermoplastics, and non-textile flooring for use primarily on side walls, lavatories, galleys, bulkheads, and cabin floors. These products are found on almost every commercial transport and regional jet platform.

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Buyer(S) 1

Buyer

TransDigm Group

Cleveland, Ohio, United States
Category Company
Founded 1993
Sector Aerospace
Employees15,500
Revenue 6.6B USD (2023)
DESCRIPTION

TransDigm Group is a designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft platforms. TransDigm's major product lines include pumps, ignition system components, mechanical controls and actuators, engineered connectors, NiCad batteries and chargers, lavatory components and overhead bin latches. TransDigm Group was founded in 1983 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 4 of 30
Sector (Aerospace) 2 of 19
Type (Add-on Acquisition) 4 of 20
State (Ohio) 1 of 2
Country (United States) 4 of 23
Year (2011) 1 of 1
Size (of disclosed) 12 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-31 TransDigm Aerospace Fastener Business

Cleveland,, Ohio, United States

TransDigm Aerospace Fastener Business,designs, produces, and supplies engineered aircraft components for use in commercial and military aircraft worldwide.

Sell $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-15 AmSafe

Phoenix, Arizona, United States

AmSafe, Inc. is a provider of highly engineered, proprietary safety and securement systems for the aviation, air cargo, military and specialty vehicle markets.

Buy $750M

Seller(S) 2

SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.

DEAL STATS #
Overall 7 of 37
Sector (Aerospace) 1 of 3
Type (Add-on Acquisition) 2 of 14
State (Ohio) 1 of 2
Country (United States) 7 of 34
Year (2011) 2 of 2
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-26 Chelsea Building Products

Oakmont, Pennsylvania, United States

Chelsea Building Products, Inc. is a manufacturer of vinyl lineals and accessories for the window and door fabrication market, as well as specialty cellular PVC moldings and exterior wall cladding. Chelsea operates three business segments: window and door profiles, specialty building products, and PVC compounding.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-18 Mitten

Brantford, Ontario, Canada

Mitten Inc. is a manufacturer and distributor of vinyl siding, vinyl siding accessories, and other exterior building products. Mitten serves the repair & remodel and new housing segments of the Canadian, U.S., and international construction markets. Mitten's products are sold throughout North America and select international markets in Europe and Australia. In Canada, Mitten distributes its own manufactured vinyl siding as well as complementary third party products through 18 distribution centers.

Buy -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 31 of 110
Sector (Aerospace) 1 of 2
Type (Add-on Acquisition) 7 of 37
State (Ohio) 1 of 5
Country (United States) 22 of 78
Year (2011) 3 of 3
Size (of disclosed) 26 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 AFS Technologies

Phoenix, Arizona, United States

AFS Technologies is a provider of fully integrated business software solutions, specifically engineered for the Food and Beverage industries. AFS new Service Oriented Architecture (SOA), based on Web Services and built on Microsoft. NET Framework 2.0, provides its customers with greater IT flexibility, increased scalability of their existing systems, and more powerful functionality, all at an affordable price. AFS Technologies was founded in 1985 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-07 Newfold Digital

Jacksonville, Florida, United States

Newfold Digital is a provider of shared web hosting services to small businesses. Newfield Digital helps customers of all sizes build a digital presence that delivers results. Newfold Digital has extensive product offerings and personalized support with customers to serve their online presence needs. Newfold Digital was founded in 1997 and is based in Jacksonville, Florida.

Buy $975M
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