M&A Deal Summary

TransDigm Group Acquires McKechnie Aerospace Holdings

On September 27, 2010, TransDigm Group, Inc. acquired aerospace company McKechnie Aerospace Holdings, Inc. from JLL Partners and Morgan Stanley Capital Partners for 1.3B USD

Acquisition Highlights
  • This is TransDigm Group’s 1st transaction in the Aerospace sector.
  • This is TransDigm Group’s 2nd largest (disclosed) transaction.
  • This is TransDigm Group’s 3rd transaction in the United States.
  • This is TransDigm Group’s 1st transaction in California.

M&A Deal Summary

Date 2010-09-27
Target McKechnie Aerospace Holdings, Inc.
Sector Aerospace
Buyer(s) TransDigm Group, Inc.
Sellers(s) JLL Partners
Morgan Stanley Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.3B USD
Advisor(s) Skadden, Arps, Slate, Meagher & Flom LLP (Legal)

Target

McKechnie Aerospace Holdings, Inc.

Irvine, California, United States
website
McKechnie Aerospace Holdings, Inc. is a global manufacturer of aerospace components, assemblies and subsystems for commercial aircraft, regional/business jets, and military fixed wing and rotorcraft vehicles.

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Buyer(S) 1

Buyer

TransDigm Group, Inc.

Cleveland, Ohio, United States

website


Category Company
Founded 1993
SectorAerospace
Employees14,200
Revenue 5.1B USD (2020)
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 established in 1983 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 3 of 27
Sector (Aerospace) 1 of 17
Type (Add-on Acquisition) 3 of 17
State (California) 1 of 3
Country (United States) 3 of 21
Year (2010) 1 of 1
Size (of disclosed) 2 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-10 Bruce Industries, Inc.

Dayton, United States

Bruce Industries, Inc. is a designer and manufacturer of proprietary, highly engineered components to the aerospace and defense industries for many years.

Buy -
FOLLOWING 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

Seller(S) 2

SELLER

JLL Partners

New York, New York, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 4.7B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

JLL Partners, Inc. is a private equity investment firm that invests alongside management in middle-market companies. JLL prefers control investments in sectors such as healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. In addition to traditional buyout transaction, JLL also seeks distressed/turnaround situations. JLL Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 8 of 19
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 3 of 6
State (California) 2 of 3
Country (United States) 8 of 18
Year (2010) 1 of 2
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-19 Ross Education LLC

Flint, Michigan, United States

Ross Education LLC operates a network of 36 post-secondary education campuses in small to medium-sized markets in Alabama, Michigan, Indiana, Iowa, Kentucky, West Virginia, Tennessee and Ohio. Ross Education was founded in 1969 and is based in Flint, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-01 NetSpend Holdings, Inc.

Austin, Texas, United States

NetSpend Holdings, Inc. is a provider of reloadable prepaid debit cards and related financial services.

Sell -
SELLER

Morgan Stanley Capital Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
SizeLarge
Type Sector Agnostic
DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.


DEAL STATS #
Overall 1 of 20
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 1 of 9
State (California) 1 of 5
Country (United States) 1 of 17
Year (2010) 1 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-11 Tops Markets LLC

Williamsville, New York, United States

Tops Markets is a full-service grocery retailer in upstate New York.

Buy $310M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-03 MGM International Group LLC

Miami, Florida, United States

MGM International Group LLC is a developer of carbon offset projects.

Sell -