TransDigm Group Inc. has successfully completed the acquisition of Communications & Power Industries’ electron device business for approximately $1.38 billion in cash. The CPI electron device business is a portfolio company of TJC and produces electronic components and subsystems for the aerospace and defense industry across its facilities in California, Massachusetts, and the U.K.
The business had around 900 employees and generated about $300 million in revenue during its fiscal year that ended on Sept. 29, 2023, with the aftermarket accounting for 70 percent of its revenue. The acquisition was initially announced in November, and TransDigm utilized cash on hand as well as cash generated from notes offerings to finance the purchase.
