Deloitte Corporate Finance Advises on the Sale of Assets of Dukes, Inc. and GST Industries, Inc. to TransDigm Group Inc.

NEW YORK, Feb. 8 /PRNewswire/ -- Deloitte Corporate Finance LLC ("DCF") today announced its role as the exclusive financial advisor to Dukes, Inc. and GST Industries, Inc.  (collectively, "Dukes") in their sale of substantially all of their assets to TransDigm Group Incorporated (NYSE: TDG, "TransDigm") for approximately $96 million in cash, plus the possibility of future payments up to a total of $60 million over four years based on the achievement of certain growth targets.

Dukes, Inc., headquartered in Northridge, California, and GST Industries, Inc., located in Mesa, Arizona, are suppliers of proprietary, highly engineered components primarily to the business jet, regional jet and military aerospace markets, along with commercial and military helicopter markets. For more than 50 years, Dukes has primarily designed and manufactured highly engineered valves, while also producing certain pumps, solenoids and related components. The majority of Dukes' revenues are business-jet related with significant content on the Cessna family of jets and Hawker Beechcraft Premier and 400XP, as well as Bombardier business and regional jets, Bell 206/407/412/429 and military platforms such as the F-16, F-18, C-130, T-50, and AH-1Z/UH-1Y. Major customers include Cessna, Honeywell, Bombardier, Hawker Beechcraft, Lockheed Martin and Bell. Dukes had annual revenues for fiscal year 2009 of approximately $36 million.

"This transaction is another example of DCF's role as a leading middle market, sell-side financial advisor within the Aerospace and Defense sector," said Kevin McFarlane, managing director of Deloitte Corporate Finance.  DCF has advised on several transactions in the sector in recent years.

Peter Frankfort, senior vice president of Deloitte Corporate Finance added, "While 2009 proved to be a difficult year in certain segments of the aerospace industry, the market continues to recognize the long term value inherent in a portfolio of proprietary, sole-sourced and highly engineered products, especially those with aftermarket revenue streams.  Regardless of industry subsector, those companies that fill in technology gaps for larger market participants or allow them to move upstream into a system integrator role will continue to be attractive acquisition candidates."

TransDigm, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electromechanical actuators and controls, ignition systems and components, gear pumps, specialized valves, engineered connectors, power conditioning devices, specialized fluorescent lighting, specialized AC/DC electric motors, aircraft audio systems, engineered latches and cockpit security devices, lavatory hardware and components, hold open rods and locking devices, specialized cockpit displays, elastomers, NiCad batteries/chargers, and starter generators and related components.

About Deloitte Corporate Finance

As used in this document, "Deloitte" means Deloitte Corporate Finance LLC* and Deloitte Services LP, separate subsidiaries of Deloitte LLP.  Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

* Deloitte Corporate Finance LLC (DCF), member FINRA, is a wholly-owned subsidiary of Deloitte Financial Advisory Services LLP. Investment banking products and services within the United States are offered exclusively through DCF.

SOURCE Deloitte Corporate Finance LLC