Aerospace components firm TransDigm Group has completed the acquisition of the Telair Cargo Group of businesses, owners of the Nordisk airfreight container manufacturing company.
The $725m purchase from AAR Corp was financed by TransDigm through a combination of existing cash in hand and via an existing $75m revolving credit facility.
The acquisition was previously announced in February.
The business consists of three major operating units, Telair International, Nordisk Aviation Products and Telair US.
Telair produces on-board cargo loading and handling, restraint systems and unit load devices (ULDs). Telair revenues are anticipated to be about $300m per annum.
