Harris Williams & Co. Advises Breeze-Eastern Corporation on its Merger with TransDigm Group Incorporated

January 4, 2016

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces that it served as the exclusive financial advisor to Breeze-Eastern Corporation (Breeze-Eastern; NYSE MKT: BZC) on its merger with TransDigm Group Incorporated (TransDigm; NYSE: TDG). Breeze-Eastern is a leading global designer and manufacturer of high performance lifting and pulling devices for military and civilian aircraft. The transaction was led by Jon Nemo, Chris Smith and Meghan McGurk of Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group.

TransDigm and Breeze-Eastern announced the successful completion of the tender offer by TransDigm, through an indirect wholly-owned subsidiary, for all of Breeze-Eastern’s outstanding shares for $19.61 per share in cash, without interest and less any applicable withholding taxes. The tender offer expired at midnight Eastern Standard Time on December 31, 2015. As of the expiration of the offer, 7,203,868 shares were validly tendered and not withdrawn (including 38,918 shares tendered pursuant to guaranteed delivery procedures), representing approximately 72.6% of the outstanding shares.  All validly tendered and not withdrawn shares have been accepted for purchase.

On January 4, 2016, TransDigm completed the acquisition of Breeze-Eastern through a merger of TransDigm’s subsidiary with and into Breeze-Eastern. Breeze-Eastern will continue as an indirect wholly-owned subsidiary of TransDigm. As a result of the merger, all remaining stockholders of Breeze-Eastern (other than TransDigm, Breeze-Eastern and any of their respective subsidiaries and holders that properly exercised appraisal rights) received $19.61 per share in cash, without interest and less any applicable withholding taxes.

Breeze-Eastern is a leading global designer and manufacturer of high performance lifting and pulling devices for military and civilian aircraft, including rescue hoists, winches and cargo hooks and weapons lifting systems. The company employs approximately 172 people at its facility in Whippany, New Jersey and Fredericksburg, Virginia.

TransDigm, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircrafts in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electromechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, specialized cockpit displays, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces and related components, lighting and control technology, military personnel parachutes and cargo loading, handling and delivery systems.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams & Co. website. 

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.