McKechnie Aerospace Holdings sold to TransDigm

JLL Partners and Morgan Stanley Capital Partners have both agreed to sell their stakes in aerospace components developer McKechnie Aerospace Holdings to TransDigm Group, a designer and manufacturer of aircraft components. TransDigm has agreed to acquire McKechnie Aerospace for a total purchase price, on a cash-free, debt-free basis, of approximately $1,270 million in cash. Morgan Stanley holds a minority stake in McKechnie Aerospace. TransDigm has already obtained commitments for the full amount which will be financed through senior and subordinated debt, and obtained commitments for the full amount of financing to execute the transaction. Credit Suisse and UBS are financial