Pexco LLC, a portfolio company of Odyssey Investment Partners, said Thursday it has sold its aerospace business to TransDigm Group Inc for about $496 million in cash.
The deal, announced in April, includes about $160 million of tax benefits that TransDigm will start receiving this year and extend over a 15-year period.
Atlanta-based Pexco designs and fabricates custom and specialty plastic products for customers in various end markets. Pexco Aerospace, which employs about 300 people, makes extruded plastic interior parts for use in the commercial aerospace industry, a separate statement said.
Harris Williams & Co advised Pexco Aerospace on the deal.
Odyssey acquired Pexco from Saw Mill Capital in August 2012. Financial terms were not disclosed.
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