Graycliff Partners, an independent investment firm focused on lower middle market private equity and mezzanine investments in the United States, has completed the sale of Skandia, an interior products and services provider to the aviation industry, to TransDigm Group Incorporated for a total purchase price of USD84 million.
TransDigm, through its wholly owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today.
Headquartered in Davis Junction, Illinois, Skandia is a leading provider of highly engineered seating foam, foam fabrication, flammability testing and acoustic solutions for the business jet market. Founded in 1983, Skandia has been a value-added supplier to business jet manufacturers, airplane component manufacturers and modification centres for over 30 years.
Since acquiring Skandia in 2012, Graycliff has worked with the company to build a stellar team, identify growth opportunities, implement new systems and streamline processes.
Will Henderson, a Managing Director at Graycliff Partners, says: “We at Graycliff have greatly enjoyed working with the management team at Skandia over the last six years. We are confident that Skandia will be a positive addition to the TransDigm family of businesses and wish them well for a successful future.”
Houlihan Lokey served as exclusive financial advisor to Skandia.
