TransDigm announces acquisition of the Simmonds Precision Products, Inc. business of Goodrich Corporation from RTX Corporation

TransDigm Group Incorporated today announced it has entered into a definitive agreement to acquire the Simmonds Precision Products, Inc. Business of Goodrich Corporation from RTX Corporation for approximately $765 million in cash, including certain tax benefits.

Simmonds, headquartered in Vergennes, Vermont, is a leading global designer and manufacturer of fuel & proximity sensing and structural health monitoring solutions for the aerospace and defense end markets. The Company's products are highly engineered, proprietary components with significant aftermarket content and a strong presence across major aerospace and defense platforms. Approximately 40% of Simmonds' revenue is derived from the aftermarket and nearly all of its revenue is generated from proprietary products. Simmonds is expected to generate approximately $350 million in revenue for the calendar year ending December 31, 2025. The Company employs approximately 900 people.

Kevin Stein, TransDigm's President and Chief Executive Officer, stated, "We are excited about the acquisition of Simmonds. The Company's highly engineered, proprietary products with substantial aftermarket content fit well with our long-standing strategy. Simmonds has established positions across a diverse range of commercial and defense platforms. The Company is an industry leader in fuel & proximity sensing and structural health monitoring technology, and we are excited to partner with Simmonds to continue investing in the business. We also look forward to working with and continuing to support Simmonds' commercial and defense customers. As with all TransDigm acquisitions, we expect this acquisition to create equity value in-line with our long-term private equity-like return objectives."

The acquisition is subject to regulatory approvals in the United States and customary closing conditions. The acquisition is expected to be financed through existing cash on hand.