TransDigm Group Incorporated announced that it has successfully completed the acquisition of Esterline Technologies Corporation, a supplier of products to the global aerospace and defense industry. Under the terms of the merger agreement, Esterline shareholders will receive $122.50 per share in cash, without interest. The transaction is valued at approximately $4.0 billion in total consideration, including the assumption of debt. The acquisition was previously announced on October 10, 2018. Computershare Trust Company, N.A., our paying agent, will mail or provide to record holders of Esterline common stock transmittal materials and instructions for surrendering their common stock in exchange for the merger consideration.

The acquisition of Esterline expands TransDigm's platform of proprietary and sole source content for the aerospace and defense industries, including significant aftermarket exposure. Esterline, with fiscal year 2018 revenue of $2.0 billion, has attractive platform positions in both the OEM and aftermarket and has substantial content on many important commercial aircraft variants, many regional and business jet aircraft and major defense platforms.