Cleveland, Ohio, August 5, 2011 – TransDigm Group Incorporated (NYSE: TDG), announced today that it has entered into a definitive agreement to acquire Schneller Holdings LLC (Schneller or the Company), from an affiliate of Graham Partners, Inc., for approximately $288.5 million in cash. The acquisition, subject to review under the Hart-Scott-Rodino Act and other customary closing conditions, is expected to close by September 30, 2011. Schneller, headquartered in Kent, Ohio, manufactures proprietary, highly engineered laminates for commercial aircraft. The Company expects calendar 2011 revenues to be approximately $84 million. Approximately two-thirds of the revenues come from the commercial aftermarket with the balance from commercial OEM.

Schneller 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. The Company is a preferred or sole supplier to key aerospace customers, including many of the world's major OEM's, commercial airlines and leading aircraft interior designers and suppliers. The major platforms and positions include most of the active Boeing platforms, all of the active Airbus platforms and most of the regional jets.

W. Nicholas Howley, Chairman and CEO of TransDigm Group Incorporated stated, "Schneller is a well established proprietary aerospace business with both significant aftermarket content and an outstanding reputation with the world's airlines. The Company fits well with TransDigm's products and market strategies. We see significant value creation opportunities through both the application of our proven methodologies as well as a recovering commercial aerospace market."

Harris Williams & Co. served as exclusive advisor to Schneller Holdings LLC.

About TransDigm Group
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, aircraft audio systems, specialized cockpit displays, engineered latching and locking devices, specialized lavatory components, engineered connectors and elastomers, rods and locking devices, NiCad batteries/chargers, and lighting and control technology.

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Source: TransDigm
Title: TransDigm to Acquire Schneller Holdings LLC
Date Published: December 19, 2013
Date Accessed: June 12, 2014