TransDigm Completes Acquisition of Telair Cargo Group

CLEVELAND, March 26, 2015 /PRNewswire/ — TransDigm Group Incorporated (NYSE: TDG) announced today that it has completed the acquisition of the Telair Cargo Group of businesses (“Telair”), from AAR CORP. (NYSE: AIR), for a total purchase price of approximately $725 million in cash, subject to adjustment. TransDigm financed the acquisition through a combination of existing cash on hand and borrowing of $75 million under its existing revolving credit facility. The acquisition was previously announced on February 23, 2015.

Telair is a global leader in aerospace on-board cargo loading and handling, restraint systems and unit load devices for a variety of commercial and military platforms with positions on a wide range of new and existing aircraft. The business consists of three major operating units, Telair International GmbH, Nordisk Aviation Products and Telair US LLC. Telair revenues are anticipated to be about $300 million with EBITDA margins approaching 20% for fiscal year ending May 2015.