FOR IMMEDIATE RELEASE
BUFFALO, NY (March 14, 2023) – Calspan announced today that it is set to be acquired by TransDigm Group (NYSE: TDG), following regulatory approvals. The acquisition by TransDigm will leave Calspan well-positioned for future stability and success, affording a smooth and lasting transition from the company’s current private ownership. Headquartered in Buffalo, NY, Calspan’s organization will remain intact with no impact to staff or operations.
Calspan has remained an independent provider of testing and technology development services, solutions, and systems in the aerospace, defense, and automotive industries for nearly 80 years. The company’s acquisition by TransDigm is a testament to the decades of hard work by countless team members and partners. It is Calspan’s fierce commitment to its company values of inclusiveness, accountability and innovation that has bred sustained commercial success to match its rich technical heritage and accomplishments.
Peter Sauer, Calspan’s President & CEO stated, “We are fortunate to have had such incredible and supportive private owners in John Yurtchuk and Lou Knotts who have challenged us to achieve great things. The acquisition by TransDigm provides a long-term home for Calspan and is a strong signal to our people, the communities we operate in, and our valued customers, that Calspan will remain an industry leader and employer of choice.”
Lou Knotts, owner and Co-Chairman of Calspan, said, “This is an opportunity to ensure that Calspan’s identity and reputation is protected and positioned to expand for many more decades beyond our tenure as owners. I am confident the company will remain well-guided for discovery and development and remain positioned to Test the Future”.
“As caretakers of this great company, we are proud to have found a solution that affords Calspan the opportunity to further build its legacy,“ said John Yurtchuk, owner and Co-Chairman of Calspan. “With the talented leadership team we have in place and the resources of TransDigm, Calspan is positioned to expand well beyond what Lou and I have achieved. It has been a privilege to serve our great employees and our customers.”
Calspan continues to hire and fill open positions, which can be found here: https://calspan.com/careers
Houlihan Lokey served as exclusive financial advisor to Calspan in connection with the sale.
Calspan is the premier, independent provider of testing and technology development services, solutions, and systems in the aerospace, defense, and automotive industries. Internationally recognized for safety research and innovation, Calspan has state-of-the-art mobility, safety, and performance facilities and partners with the top automotive OEMs to resolve technical challenges related to electronic vehicles and other emerging technologies. Calspan transforms ideas into reality by working with aerospace innovators at every stage of the development process with wind tunnel, airborne flight, jet engine, and hypersonic system development and testing services.
About TransDigm Group
TransDigm Group, 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/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems.