Aircraft parts maker TransDigm to buy Schneller for $288.5 million
06 August 2011
Aircraft parts maker TransDigm Group Inc yesterday said that it will buy Schneller Holdings Inc, an interior design products maker for commercial planes from private equity firm Graham Partners, for $288.5 million in cash.
Schneller designs and manufactures highly engineered laminates, thermoplastics, and non-textile flooring for use primarily on side walls, lavatories, galleys, bulkheads and cabin floors.
The Kent, Ohio-based company's products are found on almost every commercial transport and regional jets. It 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 including Boeing and Airbus.
Cleveland, Ohio-based TransDigm is a global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircrafts.
It manufactures aircraft components like ignition systems and components, gear pumps, mechanical/electromechanical actuators and controls, NiCad batteries/chargers, power conditioning devices, hold-open rods and locking devices, engineered connectors and latches, cockpit security devices, and AC/DC electric motors.
''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 mark," said Nicholas Howley, chairman and CEO of TransDigm.