Goodrich adds data collection capabilities
Goodrich Corp. is looking to bolster its aircraft data systems capabilities with its proposed acquisition of TEAC Aerospace Holdings Inc.
Terms of the deal were not disclosed, but Goodrich of Charlotte, N.C., is picking up about $50 million in annual revenue, according to a company statement.
TEAC builds airborne mission data collection systems that include data, video and audio collection. The company also makes debriefing products for the defense industry and cabin video systems for commercial airlines.
The company is owned by Thayer/Hidden Creek Capital, a private equity firm.
TEAC's major customers include the U.S. military and U.S. allies, defense contractors and commercial airlines.
"This acquisition provides Goodrich with additional presence in advanced military aircraft data collection as well as postflight debrief capabilities," said Curtis Reusser, segment president for Electronic Systems at Goodrich.
TEAC will become part of Goodrich's Sensors and Integrated Systems business.
The investment bank Houlihan Lokey Howard and Zukin advised TEAC.
Goodrich is an aerospace and defense company with 2007 revenue of $6.4 billion.
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Nick Wakeman is the editor of Washington Technology.