CLEVELAND (AP) — Aircraft parts supplier TransDigm Group Inc. said Monday that it has agreed to buy the Actuation business of Telair International Inc. for about $94 million in cash.
The deal, subject to antitrust approvals, is expected to close by the end of the year.
Actuation, located near Los Angeles, makes electromechanical products and other components for commercial and military aircraft. About two thirds of its revenues come from commercial aerospace sales and the rest from the defense market. Actuation makes electro-mechanical components for wing flaps and slats, landing gears, military jet canopies and other aircraft components.
Telair is a wholly-owned subsidiary of Telefex Inc., which is based in Limerick, Pa.
TransDigm, based in Cleveland, said in a statement that Actuation is expected to generate about $25 million in revenue for the current calendar year.
Teleflex said in a statement that the sale is another step toward its objective of being purely a medical technology company.