EX-99.1
2
exhibit991pressreleasecobh.htm
EX-99.1
Document
Exhibit 99.1
TransDigm Completes Acquisition of Cobham Aero Connectivity
Cleveland, Ohio, January 5, 2021/PRNewswire / -- TransDigm Group Incorporated (NYSE: TDG) announced today it has completed substantially all of its acquisition of Cobham Aero Connectivity ("CAC" or "the Company"). The acquisition of CAC for an aggregate purchase price of $965 million (including tax benefits to be realized by TransDigm) was previously announced on November 24, 2020. The acquisition was financed through cash on hand.
Cobham Aero Connectivity is headquartered in Marlow, UK. CAC 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 generated approximately $225 million in revenue for the fiscal year ended December 31, 2020. Nearly 60% of CAC's revenue is derived from international sales and over 70% of CAC's revenue comes from the aftermarket. 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.
A portion of the CAC acquisition representing approximately 2% of the total purchase price remains subject to Finnish regulatory approval and is expected to close in the coming weeks.
About TransDigm
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, aircraft audio systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems.
1
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe", "may", "will", "should", "expect", "intend", "plan", "predict", "anticipate", "estimate", or "continue" and other words and terms of similar meaning may identify forward-looking statements. All forward-looking statements involve risks and uncertainties that could cause TransDigm Group's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, TransDigm Group. These risks and uncertainties include but are not limited to: the impact that the COVID-19 pandemic has on the TransDigm Group's business, results of operations, financial condition and liquidity; the sensitivity of TransDigm Group's business to the number of flight hours that its customers' planes spend aloft and its customers' profitability, both of which are affected by general economic conditions; future geopolitical or other worldwide events; cyber-security threats and natural disasters; TransDigm Group's reliance on certain customers; the U.S. defense budget and risks associated with being a government supplier including government audits and investigations; failure to maintain government or industry approvals; failure to complete or successfully integrate acquisitions; TransDigm Group's indebtedness; potential environmental liabilities; liabilities arising in connection with litigation; increases in raw material costs, taxes and labor costs that cannot be recovered in product pricing; risks and costs associated with TransDigm Group's international sales and operations; and other risk factors. Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group's Annual Report on Form 10-K for the fiscal year ended September 30, 2020 and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law, TransDigm Group undertakes no obligation to revise or update the forward-looking statements contained in this press release.
Contact:
Investor Relations
216-706-2945
ir@transdigm.com
2

EX - 99 . 1 2 exhibit991pressreleasecobh . htm EX - 99 . 1 Document Exhibit 99 . 1 TransDigm Completes Acquisition of Cobham Aero Connectivity Cleveland , Ohio , January 5 , 2021 / PRNewswire / -- TransDigm Group Incorporated ( NYSE : TDG ) announced today it has completed substantially all of its acquisition of Cobham Aero Connectivity ( " CAC " or " the Company " ) . The acquisition of CAC for an aggregate purchase price of $ 965 million ( including tax benefits to be realized by TransDigm ) was previously announced on November 24 , 2020 . The acquisition was financed through cash on hand . Cobham Aero Connectivity is headquartered in Marlow , UK . CAC 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 generated approximately $ 225 million in revenue for the fiscal year ended December 31 , 2020 . Nearly 60 % of CAC 's revenue is derived from international sales and over 70 % of CAC 's revenue comes from the aftermarket . 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 . A portion of the CAC acquisition representing approximately 2 % of the total purchase price remains subject to Finnish regulatory approval and is expected to close in the coming weeks . About TransDigm TransDigm Group , through its wholly - owned subsidiaries , is a leading global designer , producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today . Major product offerings , substantially all of which are ultimately provided to end - users in the aerospace industry , include mechanical / electro - mechanical actuators and controls , ignition systems and engine technology , specialized pumps and valves , power conditioning devices , specialized AC / DC electric motors and generators , batteries and chargers , engineered latching and locking devices , engineered rods , engineered connectors and elastomer sealing solutions , databus and power controls , cockpit security components and systems , specialized and advanced cockpit displays , aircraft audio systems , specialized lavatory components , seat belts and safety restraints , engineered and customized interior surfaces and related components , advanced sensor products , switches and relay panels , thermal protection and insulation , lighting and control technology , parachutes , high performance hoists , winches and lifting devices , and cargo loading , handling and delivery systems . 1 Forward - Looking Statements Statements in this press release that are not historical facts are forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . Words such as " believe " , " may " , " will " , " should " , " expect " , " intend " , " plan " , " predict " , " anticipate " , " estimate " , or " continue " and other words and terms of similar meaning may identify forward - looking statements . All forward - looking statements involve risks and uncertainties that could cause TransDigm Group 's actual results to differ materially from those expressed or implied in any forward - looking statements made by , or on behalf of , TransDigm Group . These risks and uncertainties include but are not limited to : the impact that the COVID - 19 pandemic has on the TransDigm Group 's business , results of operations , financial condition and liquidity ; the sensitivity of TransDigm Group 's business to the number of flight hours that its customers ' planes spend aloft and its customers ' profitability , both of which are affected by general economic conditions ; future geopolitical or other worldwide events ; cyber - security threats and natural disasters ; TransDigm Group 's reliance on certain customers ; the U . S . defense budget and risks associated with being a government supplier including government audits and investigations ; failure to maintain government or industry approvals ; failure to complete or successfully integrate acquisitions ; TransDigm Group 's indebtedness ; potential environmental liabilities ; liabilities arising in connection with litigation ; increases in raw material costs , taxes and labor costs that can not be recovered in product pricing ; risks and costs associated with TransDigm Group 's international sales and operations ; and other risk factors . Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group 's Annual Report on Form 10 - K for the fiscal year ended September 30 , 2020 and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission . Except as required by law , TransDigm Group undertakes no obligation to revise or update the forward - looking statements contained in this press release . Contact : Investor Relations 216 - 706 - 2945 ir@transdigm.com 2