CLEVELAND, 27 Sept. 2008. TransDigm Group Inc. has acquired certain assets of Unison Industries LLC, a wholly-owned subsidiary of General Electric Company's GE Aviation business unit, for approximately $69 million in cash. Unison has been a supplier of proprietary, highly engineered components to the commercial aerospace industry for more than 50 years. The product line has unaudited annual revenues of approximately $17 million.
The acquired product line includes SLICK magnetos, harnesses, and components. The products serve the general aviation aircraft market and are approved for use on virtually all of the world's most popular general aviation piston aircraft. The products are used on a wide array of aircraft applications, such as the entire fixed wing piston aircraft line of Cessna and multiple models of Piper and Diamond aircraft. The vast majority of the product line's sales are made to commercial aftermarket customers.
W. Nicholas Howley, chairman and CEO of TransDigm Group Incorporated, states, "Unison has a long-standing reputation as a premier supplier of proprietary, highly engineered ignition systems, magnetos, and associated components to the general aviation industry. These well-established positions will allow TransDigm to both participate in OEM engine sales and also capture a large and consistent stream of aftermarket revenues. This highly profitable product line is an excellent fit with our Champion Aerospace products, and we expect to see steady value creation as we integrate the Unison product line into our Champion business."
