TransDigm completes acquisition of Telair Cargo Group

TransDigm Group has completed the acquisition of the Telair Cargo Group of businesses, from AAR, for a total purchase price of approximately US$725m in cash, subject to adjustment. TransDigm financed the acquisition through a combination of existing cash on hand and borrowing of US$75m under its existing revolving credit facility. The acquisition was previously announced on February 23rd, 2015. Telair is a global leader in aerospace on-board cargo loading and handling, restraint systems and unit load devices for a variety of commercial and military platforms with positions on a wide range of new and existing aircraft. The business consists of three major operating units, Telair International GmbH, Nordisk Aviation Products and Telair US LLC. Telair revenues are anticipated to be about US$300m with EBITDA margins approaching 20% for fiscal year ending May 2015.