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Press release content from Business Wire. The AP news staff was not involved in its creation.

Searchlight Capital Partners to Acquire Technical Airborne Components from TransDigm Group

April 13, 2021 GMT

LONDON--(BUSINESS WIRE)--Apr 13, 2021--

Technical Airborne Components (“TAC”, “the Company”), a leading designer and manufacturer of rods and struts for the aerospace industry, is pleased to announce that Searchlight Capital Partners (“Searchlight”), a leading global private investment firm, has entered into a definitive agreement to acquire the Company from TransDigm Group Incorporated (“TransDigm Group”) (NYSE: TDG).

TAC is one of the leading European players in the rods and struts market with a presence in commercial aircraft, regional and business jets, helicopters, as well as military and space programs. The Company benefits from long-standing relationships with key aircraft manufacturers including Airbus, Leonardo and Pilatus, among others, as well as differentiated design-to-build capabilities. This results in an attractive sole-source portfolio underpinned by long-term contracts, as well as exposure to growing platforms like the A320. TAC is based in Belgium (Liège), with approximately 170 employees.

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Ralf Ackermann, Partner at Searchlight, commented: “We are delighted to be partnering with TAC and its management team and look forward to drawing upon our industry and operational expertise, as well as our transatlantic presence to accelerate its growth. This investment further demonstrates our belief in the long-term recovery of the Aerospace sector.”

Dirk Dhooge, President of TAC, commented: “This is an exciting opportunity for the entire TAC team, we look forward to working with Searchlight to expand our business and gain new opportunities. We believe that this transaction keeps TAC well-positioned for the impending Aerospace recovery.”

About Searchlight Capital Partners

Searchlight is a global private investment firm with over $9 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders.

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, 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.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210413005587/en/

CONTACT: Searchlight Capital Partners Media relations

Pierre-Jean Le Mauff (Taddeo)

+33 (0)7 77 78 58 67 /pierre-jean.lemauff@taddeo.fr

KEYWORD: EUROPE UNITED KINGDOM FRANCE

INDUSTRY KEYWORD: DEFENSE AIR TRANSPORT AEROSPACE MANUFACTURING OTHER DEFENSE

SOURCE: Searchlight Capital Partners

Copyright Business Wire 2021.

PUB: 04/13/2021 06:20 AM/DISC: 04/13/2021 06:21 AM

http://www.businesswire.com/news/home/20210413005587/en