TransDigm Group Incorporated (NYSE:TDG) shares showed slight gains Wednesday, on word the Cleveland-based company has completed the acquisition of SEI Industries Ltd.
SEI Industries, headquartered in Delta, British Columbia, is a leading provider of highly engineered products for aerial firefighting and other liquid transportation solutions, such as remote refueling. Its innovative and world-renowned Bambi Bucket®, is a proprietary collapsible firefighting bucket used across the globe to combat forest fires, among other applications. SEI provides exceptional aftermarket support of the Bambi Bucket® through its 12 international repair facilities. SEI's revenues are derived from both the commercial and defense aerospace end markets, with about 85% of the revenues coming from the aftermarket. The Company employs approximately 80 people and is expected to generate approximately $30 million in revenue for the calendar year ending December 31, 2024.
Said TransDigm CEO Kevin Stein, "We are excited about the acquisition of SEI Industries. SEI is a leader in products for firefighting helicopters and other liquid transportation solutions. The Company is widely known in the industry for its highly engineered and specialized products, which fit well with our proprietary and aftermarket-focused value generation strategy. SEI's innovative products and excellent customer service at its global repair centers have created a strong portfolio of established, long-term customers. As with all TransDigm acquisitions, we expect the SEI acquisition to create equity value in-line with our long-term private equity-like return objectives."
TDG shares acquired 72 cents to $1,337.56.
