Eaton Corporation has made a USD920 million offer for the acquisition of TransDigm Group’s Souriau-Sunbank Connection Technologies subsidiary.
TransDigm acquired Souriau-Sunbank when it purchased Esterline in March 2019, and the divestment to Eaton is expected to complete during the fourth quarter of 2019.
“As previously communicated, we have been considering divesting some Esterline portfolio businesses that do not align well with TransDigm’s strategy,” Walter Howley, executive chairman of TransDigm, said.
“As such, we are pleased to have an agreement for the divestiture of Souriau-Sunbank to Eaton. This is a high-quality, well-established connector business. We are confident that its customers will continue to be well-served as we work towards a successful completion of the transaction.”
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes