McKechnie Aerospace Holdings sold to TransDigm

Dino D'Amore
By Dino D'Amore September 30, 2010 00:38

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 advisers, with Baker & Hostetler advising TransDigm. Morgan Stanley and Jefferies & Company are acting as financial advisors, with Skadden, Arps, Slate, Meagher & Flom advising JLL Partners and McKechnie Aerospace.

The acquisition is expected to close before the end of the year 2010.

Dino D'Amore
By Dino D'Amore September 30, 2010 00:38
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