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TransDigm withdraws from planned $960 million Stellant Systems acquisition

TransDigm withdraws from planned $960 million Stellant Systems acquisition

- Aeroplane parts maker TransDigm TDG.N said on Monday it was withdrawing from its proposed $960 million acquisition of Stellant Systems, a portfolio company of Arlington Capital Partners.

The company recently concluded that pursuing the transaction through the regulatory review process was no longer in its best interest, TransDigm said in a regulatory filing.

  • The Cleveland, Ohio-based manufacturer said it "remains committed to its disciplined acquisition strategy and continues to evaluate acquisition opportunities that it believes will enhance long-term shareholder value."

  • The company raised its annual profit forecast in May after posting a better-than-expected quarterly profit on strong aftermarket demand.

  • TransDigm develops, manufactures and delivers specialized aircraft components used in almost every commercial and military aircraft in service.

  • Defense tech co Stellant designs and makes high-power radio frequency and microwave amplification systems used in military, space, communications, medical and industrial applications.


(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Joyjeet Das)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))

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