TransDigm paying $1.4 billion for Electric Device business from TJC portfolio company CPI

TransDigm Group Inc.
TDG,
+7.71%
said Thursday it agreed to pay $1.4 billion in cash for the 900-employee Electron Device unit within Communications & Power Industries (CPI). Communications & Power Industries is a portfolio company of private-equity firm TJC LP. TransDigm said CPI’s Electric Device business is a leading global manufacturer of electronic components and subsystems primarily for the aerospace and defense market. TransDigm stock is up 42% in 2023, compared to a 14.2% rise by the S&P 500
SPX,
+0.07%.