TransDigm Group [TDG] yesterday said it has agreed to acquire the former Goodrich Pump & Engine Control Systems business from United Technologies Corp. [UTX] for $236 million in cash, a deal which expands the company’s content on a number of engine applications.
The pump and engine unit, which federal regulators required UTC to divest as part of its acquisition of Goodrich, is expected to have $195 million in sales this year. About 60 percent of revenues come from the military market and the commercial market accounts for the rest. Aftermarket sales make up 55 percent of revenues.
The Connecticut-based pump and engine unit designs and makes electronic engine controls, fuel metering units and main fuel pumps and its products are on a number of engines used by business jets, helicopters, and other military and commercial engines.