UK approves TransDigm-CPI deal subject to national security condition
February 28, 2024 at 09:29 am EST
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LONDON (Reuters) - Britain on Wednesday approved TransDigm's acquisition of U.S.-based Communications & Power Industries (CPI), subject to the condition that CPI's UK research and manufacturing capabilities in relation to atomic clocks remain in the country.
Britain said in a statement it had made the provision to the deal, which refers to CPI's owner as Iceman Holdco, under the National Security and Investment Act.
(Reporting by Muvija M; Writing by Sarah Young; Editing by Sachin Ravikumar)
TransDigm Group Inc. specializes in the design, manufacturing and marketing of aerospace systems and components. Net sales break down by family of products as follows:
- engine components and control systems (50.3%): mechanical and electromechanical actuators and control systems, pumps and engine control systems, power regulators, ignition systems, thermal management systems, fluid management systems, batteries and power supply systems, motion sensors, data recording, analysis and processing systems, etc. The group also offers winches, lifting systems and cargo handling systems;
- cabin systems and equipment (47%): cockpit safety components and systems, locking systems and devices, connectors, audio control systems, specialized sanitary equipment, seat belts and safety devices, interior fittings (seats, display systems, on-board entertainment systems, etc.) lighting systems, parachutes, freight delivery systems, etc. ;
- other (2.7%): non-aeronautical systems and equipment.
At the end of September 2023, the group operated approximately 100 production sites worldwide.
The United States accounts for 64.8% of net sales.
TRANSDIGM GROUP INC. 
