TransDigm Group Inc. has completed the acquisition of the electron device business of Communications & Power Industries, a portfolio company of TJC, for around $1.38 billion in cash. The CPI electron device business manufactures electronic components and subsystems for the aerospace and defense industry across its facilities in California, Massachusetts, and the U.K. With approximately 900 employees, the business generated about $300 million in revenue for its fiscal year that ended on Sept. 29, 2023, with the aftermarket contributing to 70 percent of its revenue. The acquisition was initially announced in November.
TransDigm utilized cash on hand and cash generated from notes offerings to finance the purchase.