Component Maker Dukes Sold to TransDigm Group

 - December 9, 2009, 11:05 AM

TransDigm Group has agreed to buy most of the assets of Dukes and Dukes subsidiary GST Industries for about $96 million in cash, according to TransDigm. The deal also includes future payments that could reach $60 million over the next four years “based on the achievement of certain growth targets that are well above anticipated industry growth.” Dukes is based in Northridge, Calif., and manufactures a line of fuel pumps found in many popular general aviation aircraft as well as valves, solenoids and other components for Bombardier, Cessna and Hawker Beechcraft airplanes, Bell helicopters and military aircraft manufacturers. GST is based in Mesa, Ariz., and also manufactures similar components. “While 2010 may well be a difficult year for the business jet market,” said TransDigm chairman and CEO Nicholas Howley, “we see significant long-term value-creation opportunities in the Dukes business. The proprietary nature of these products along with aftermarket content fits well with our overall business strategy.”