TransDigm buys Aero-Instruments for $35M
CLEVELAND (AP) — Aircraft parts maker TransDigm Group Inc. said Monday that it bought Aero-Instruments Co. for $35 million in cash.
Aero-Instruments makes air data sensors used in business jets and helicopters. TransDigm said Aero-Instruments has about 60 employees. Both companies are based in Cleveland.
Shares of TransDigm Group lost $1.55 to $144.06 in morning trading. They briefly traded at a 52-week high of $146.21 on Friday. They are almost double their low for the past year of $74.30 set last October.