TransDigm Expands PMA Portfolio with $2.2B Deal

TransDigm Group is acquiring Jet Parts Engineering and Victor Sierra Aviation Holdings in a cash transaction valued at approximately $2.2 billion, including certain tax benefits. Portfolio holdings of Vance Street Capital, the two companies collectively generated about $280 million in revenue last year. The acquisition is subject to regulatory approvals in the U.S. and customary closing conditions.

Jet Parts Engineering, headquartered in Seattle, designs and manufactures proprietary FAA PMA parts and repair solutions primarily for aircraft fleet operators, as well as MRO providers. The company employs about 300 people and derives nearly all of its revenue from the commercial aftermarket.

Victor Sierra Aviation Holdings serves the general aviation and business aviation markets through brands including McFarlane Aviation, Tempest Aero Group, and Aviation Products Systems. Victor Sierra employs about 400 people and operates from multiple facilities across the U.S.

TransDigm chairman, president, and CEO Mike Lisman said the two businesses are profitable and align with TransDigm’s strategy of acquiring highly engineered, proprietary aftermarket product lines that generate recurring commercial revenue. TransDigm said Jet Parts Engineering and Victor Sierra will continue to operate independently following the acquisition, consistent with its long-term operating model.