Graycliff Partners LP said July 23 that it sold Skandia Inc to TransDigm Group Inc for $84 million. Skandia, of Davis Junction, Illinois, provides seating foam, foam fabrication, flammability testing and acoustic solutions for the business jet market. Houlihan Lokey provided financial advice to Skandia.
GRAYCLIFF PARTNERS ANNOUNCES SALE OF SKANDIA
NEW YORK, July 23, 2018 – Graycliff Partners LP, an independent investment firm focused on lower middle market private equity and mezzanine investments in the United States, today announced that it has completed the sale of Skandia Inc. (“Skandia”), a leading interior products and services provider to the aviation industry, to TransDigm Group Incorporated (NYSE:TDG) for a total purchase price of $84 million. 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 aircraft in service today.
Headquartered in Davis Junction, Illinois, Skandia is a leading provider of highly engineered seating foam, foam fabrication, flammability testing and acoustic solutions for the business jet market. Founded in 1983, Skandia has been a value-added supplier to business jet manufacturers, airplane component manufacturers and modification centers for over 30 years.
Since acquiring Skandia in 2012, Graycliff has worked with the company to build a stellar team, identify growth opportunities, implement new systems and streamline processes.
Will Henderson, a Managing Director at Graycliff Partners, said, “We at Graycliff have greatly enjoyed working with the management team at Skandia over the last six years. We are confident that Skandia will be a positive addition to the TransDigm family of businesses and wish them well for a successful future.”
Houlihan Lokey served as exclusive financial advisor to Skandia.
About Graycliff Partners LP
Graycliff Partners is an investment firm focused on lower middle market investments. Graycliff seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.