TransDigm Group Incorporated today announced it has successfully completed its acquisition of the Electron Device Business of Communications & Power Industries, a portfolio company of TJC, L.P., for approximately $1.385 billion in cash. TransDigm financed the acquisition through cash on hand as well as cash proceeds from the notes offerings completed in November 2023. The acquisition of the CPI Electron Device Business was previously announced on November 9, 2023.

The CPI Electron Device Business is a leading global manufacturer of electronic components and subsystems primarily serving the aerospace and defense market. The Company's products are highly-engineered, proprietary components with significant aftermarket content and a strong presence across major aerospace and defense platforms. Approximately 70% of its revenue is derived from the aftermarket and nearly all of its revenue is generated from proprietary products. The CPI Electron Device Business generated approximately $300 million in revenue for its fiscal year ended September 29, 2023. The Company has manufacturing locations in Palo Alto, California; Beverly, Massachusetts; Middlesex, UK; and Woodland, California. The Company employs approximately 900 people.