TransDigm Group [TDG] last week said it has completed its $250 million acquisition of Airborne Systems, Inc., which provides a range of aerial delivery products.
The acquisition had been expected to close early in 2014. Airborne Systems, which was acquired from Metalmark Capital, had $160 million in sales in its fiscal year that ended June 30.
Airborne Systems designs and manufactures personnel parachutes, cargo aerial delivery systems, emergency escape systems, naval decoys, and other related products. The New Jersey-based company does a little more than half of its business with international customers and the rest in the United States.
TransDigm said that Airborne Systems has significant sole source positions with many of its government customers.