LOS ANGELES TransDigm Group Inc. has entered a deal to buy aerospace component manufacturer Arkwin Industries Inc. for about $286 million in cash, marking its second announced acquisition, the company said May 15.
The Cleveland-based aircraft component supplier expects the transaction, which is subject to regulatory approvals and other customary closing conditions, to close in its fiscal third quarter ending June 30.
TransDigm said in April that it would merge with Clearwater, Fla.-based aircraft component manufacturer Aerosonic Corp. in a transaction valued at about $39 million. Last week it commenced a tender offer for Aerosonics shares.
Westbury, N.Y.-based Arkwin, which had 2012 revenue of about $95 million, manufactures aerospace hydraulic and fuel system components for commercial and military aircraft, helicopters and other specialty applications, TransDigm said. About 50 percent of its sales are in the commercial transport sector, with 40 percent in the aftermarket.
Arkwins major programs include Boeing Co.s 737 and 777 airliners; Airbus SAS 320 airliner; Lockheed Martin Corp.s F-35 Joint Strike Fighter, C-130 military transport and F-16 fighter aircraft; and helicopters built by both the Sikorsky Aircraft Corp. unit of United Technologies Corp. and Boeing.
The acquisition of Arkwin will allow TransDigm "to expand our content on a number of substantial platforms and engine applications," TransDigm chairman and chief executive officer W. Nicholas Howley said in a statement.