Data Device Corporation (DDC), supplier of connectivity, power and motion control solutions for aerospace, defense and industrial applications announced its owner, Behrman Capital, has entered into a definitive agreement to sell DDC to Transdigm Group Incorporated. The transaction is valued at $1 billion.
"The DDC team is very appreciative of Behrman Capital for the unwavering support of our company these past 13 years," said Vincent Buffa, president and CEO of DDC. "The Behrman team not only invested the financial resources we needed to execute our growth strategy, but also provided invaluable operational expertise and strategic insight into our business and markets."
Grant G. Behrman, managing partner of Behrman Capital added: “We are very proud of our investment in Data Device Corporation and the role we played in building the company’s leadership position. The DDC value creation story is an exciting one and we believe the business is exceptionally well-positioned for further growth under its new ownership. We commend Vince Buffa and his management team for their leadership and hard work, and wish them and all their colleagues every success in the future as part of Transdigm.”
Completion of the transaction is expected before the end of the second quarter of 2016.
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