Transdigm Group to buy Data Device Corporation for $1bn

25th May 2016
Nat Bowers

Data Device Corporation (DDC) has revealed that its owner, private equity investment firm Behrman Capital, has entered into a definitive agreement to sell DDC to Transdigm Group in a transaction valued at $1bn.

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 recapitalisations 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.

Vincent Buffa, commented: "The DDC team is very appreciative of Behrman Capital for the unwavering support of our company these past 13 years. The Behrman team not only invested the financial resources we needed to execute our growth strategy, but also provided invaluable operational expertise and strategic insight into our business and markets. We benefited extensively from our partnership with Behrman, which has expanded DDC’s solution capabilities and the value we can provide our customers. I am grateful to have had such a strong partner in leading this business and its transformation over the past 5 years and look forward to working with the Transdigm Group in leading DDC to even greater success as we move forward.”

“We are very proud of our investment in Data Device Corporation and the role we played in building the company’s leadership position. The DDC value creation story is an exciting one and we believe the business is exceptionally well-positioned for further growth under its new ownership. We commend Vince Buffa and his management team for their leadership and hard work,and wish them and all their colleagues every success in the future as part of Transdigm," added Grant G. Behrman, Managing Partner, Behrman Capital.

Completion of the transaction is expected before the end of the second quarter of 2016. Latham & Watkins LLP is serving as legal counsel to DDC.

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