TransDigm Group Inc. [TDG] yesterday said it has completed its cash tender offer for Aerosonic Corp., giving it a controlling interest in the small aerospace firm.
TransDigm is paying $7.75 for each of Aerosonic’s shares, and once it completes the acquisition the deal will be valued at about $39 million. Aerosonic, which had nearly $30 million in sales last year, makes air data sensing, test and display components used in the business jet, helicopter and military markets.
About 55 percent of Aerosonic’s business is in the commercial market and more than half of its sales come from the aftermarket.
TransDigm expects to complete the purchase of the remaining outstanding shares of Aerosonic around June 10.