May 25, 2016 – Data Device Corporation (DDC), a provider of connectivity, power, and motion control solutions for aerospace, defense and industrial applications announced today that its owner, Behrman Capital, a private equity investment firm, has entered into a definitive agreement to sell DDC to Transdigm Group Incorporated (NYSE: TDG) in a transaction valued at $1 billion.
After partnering with CEO Clifford Lane in 2003 to acquire ILC Industries, the parent of DDC, Behrman has pursued a wide range of strategic initiatives. These include four strategic add-on acquisitions, six dividend recapitalizations and the tax-free spin-off of its ILC Dover business, which enabled both DDC and Dover to focus on their specific long-term growth strategies. In 2011, Behrman recruited Vincent Buffa who as President and CEO has led the team that has driven DDC’s recent success.
Completion of the transaction is expected before the end of the second quarter of 2016.
