TransDigm Group Incorporated announced that it has entered into a definitive agreement to acquire Young & Franklin Inc. and its subsidiaries, including Tactair Fluid Controls Inc. TransDigm, which manufactures highly engineered valves and actuators, is located in Liverpool, New York.
Revenues are anticipated to be about USD $75 million for the fiscal year ending December 2016 with aftermarket comprising approximately 70 per cent of the revenue. Nearly 100 per cent of the revenues are from proprietary products and about 70 per cent of the revenue is aerospace related. The balance is sold to the industrial gas turbine market.
The acquisition, subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of fiscal 2016.