TransDigm Announces Acquisition of Prince & Izant

TransDigm Group Incorporated (NYSE: TDG) today announced it has entered into a definitive agreement to acquire Prince & Izant ("P&I" or "the Company"), a portfolio company of Industrial Growth Partners, for approximately $1.066 billion in cash, including certain tax benefits.

Headquartered in Cleveland, Ohio, Prince & Izant is a leading global designer and manufacturer of highly engineered brazing alloys and specialty metal components used across a range of advanced performance and high cost-of-failure applications. The Company primarily supports the aerospace and defense, aeroderivative turbine, and transportation end markets. Within aerospace and defense, select applications include aircraft engine fuel nozzles and rocket engines. Additionally, but to a lesser degree, the Company also serves the medical and general industrial end markets.

The Company derives the majority of its revenue from the aftermarket and supports a large installed base globally. Prince & Izant's products are highly proprietary in nature and support end customers through the Company's advanced metallurgy, precise chemistry requirements, and deep formulation expertise which are critical to supporting the evolving performance requirements in the markets which it serves. The Company's products span nearly 10,000 active SKUs, and the majority of P&I's revenue is derived from specialty metals including gold, silver, and platinum alloys.

P&I is expected to generate approximately $360 million in revenue for the calendar year ending December 31, 2026. The Company has manufacturing locations in Cleveland, Ohio; Tinley Park, Illinois; Franksville, Wisconsin; and Bay Shore, New York. Prince & Izant employs approximately 220 people.

Mike Lisman, TransDigm's Chief Executive Officer, stated, "We are excited to have an agreement to acquire Prince & Izant. The Company offers highly engineered, custom, proprietary products and provides excellent service to its customers - attributes that align well with TransDigm's acquisition criteria. Further, we are familiar with the applications and benefits of these products. 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.