
Cleveland and Whippany, New Jersey – TransDigm Group Inc. and Breeze-Eastern Corp. have a definitive agreement for Breeze-Eastern to become an indirect, wholly owned subsidiary of TransDigm.
Both TransDigm and Breeze-Eastern design, manufacture, and supply highly engineered aircraft components. Breeze-Eastern Corp. employs approximately 172 people at its facilities in Whippany, New Jersey, and in Fredericksburg, Virginia.
W. Nicholas Howley, chairman and chief executive officer of TransDigm, stated, "Breeze-Eastern pioneered the technology for helicopter rescue hoists and cargo winches and subsequently became a leading global designer and manufacturer of highly engineered, proprietary rescue hoists, winches and cargo hooks, as well as weapons-handling systems equipment, which currently can be found on all types of military and civilian aircraft. Major customers include Sikorsky, Boeing, AgustaWestland, Airbus and the U.S. government, serving such platforms as the UH-60 Blackhawk, CH-47 Chinook, Airbus A400M transport, HH-65 Dolphin, and AW-139 series helicopter. About 75% of Breeze-Eastern's total revenue is derived from military markets and 70% from aftermarket products, with the vast majority being from proprietary products. We are pleased to have an agreement to acquireBreeze-Eastern given that the proprietary nature of these products, along with significant aftermarket content, fits well with our overall business strategy."
Brad Pedersen, Breeze-Eastern's president and CEO, added, "We believe Breeze-Eastern will be an excellent addition to the TransDigm portfolio of companies, as our products, business model, strategy, and focus are closely aligned. Being part of a larger aerospace company will allow for further growth opportunities and provide resources for Breeze-Eastern to continue developing the highly engineered life-saving products that we're known for today. We are proud of our history and accomplishments and look forward to our future together with TransDigm."
Earlier this year, TransDigm Group acquired PneuDraulics Inc. and Pexco Aerospace.
Source: TransDigm Group Inc.
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