TransDigm Group to acquire Jet Parts Engineering and Victor Sierra Aviation from Vance Street Capital for $2.2bn.

TransDigm, a manufacturer of aircraft components, agreed to acquire Jet Parts Engineering, an independent designer and manufacturer of aerospace aftermarket solutions, and Victor Sierra Aviation, designer, manufacturer, and distributor of proprietary PMA and other aftermarket parts, from Vance Street Capital, a private equity firm, for $2.2bn. "We are excited to have an agreement to acquire Jet Parts Engineering and Victor Sierra, two well run, profitable businesses that will fit well within TransDigm. The Companies' highly engineered, proprietary OEM-alternative parts and services generate nearly 100% commercial aftermarket revenue. These businesses offer a unique value proposition to their airline, business, and general aviation end user customers as an alternative to OEM parts and are each growing nicely. We will continue to offer this unique value proposition to customers and grow both companies under TransDigm ownership, where they will operate independently, consistent with our long-term approach to running our businesses. We look forward to working with and continuing to support the Companies' customers. As with all TransDigm acquisitions, we expect these acquisitions to create equity value in-line with our long-term private equity-like return objectives," Mike Lisman, TransDigm Chief Executive Officer.