TransDigm Group [TDG] on Tuesday said it has agreed to acquire Raptor Scientific
, a manufacturer of proprietary test and instruments equipment for aerospace, defense, and other industries, from the private equity firm L Squared Capital Partners for $655 million in cash.
Raptor Scientific, which has about 170 employees, is expected to generate about $90 million in sales this year. TransDigm said that Raptor’s products include “significant aftermarket content.”
The transaction includes certain tax benefits, TransDigm said. The acquisition is subject to regulatory approvals.
“The company’s comprehensive and proprietary and highly engineered product portfolio of aerospace and defense testing and instrumentation solutions fits well with our value generation strategy,” Kevin Stein, president and CEO of TransDigm, said in a statement. “Raptor Scientific’s test and measurement solutions are used on a diverse range of new and existing aircraft platforms, and the company has an outstanding reputation with its customers.”
L Squared’s financial advisers on the deal include Harris Williams & Co., PwC, and CSP Associates.