HYDE PARK CAPITAL RENDERS FAIRNESS OPINION TO AEROSONIC FOR ITS SALE TO TRANSDIGM GROUP
Tampa, Florida – May 7, 2013 – Hyde Park Capital Advisors, LLC (“Hyde Park Capital”) is pleased to announce it has rendered a fairness opinion to the Board of Directors of Aerosonic Corporation (“Aerosonic”) (“NYSE MKT:AIM), a leading manufacturer and supplier of highly engineered aircraft components, in connection with its sale to TransDigm Group Incorporated (“TransDigm”) (NYSE:TDG).
W. Nicholas Howley, Chairman and Chief Executive Officer of TransDigm stated, “Aerosonic designs and manufactures highly engineered, proprietary air data sensing, test and display components for use primarily in the business jet, helicopter and military markets. Major customers include the U.S. Government and Boeing. About 55% of total revenue is derived from the commercial market and 60% from the aftermarket. We are pleased to have an agreement to acquire Aerosonic. The proprietary nature of these products, along with aftermarket content, fit well with our overall business strategy.”
Doug Hillman, Aerosonic’s President and CEO, stated “We are excited to have Aerosonic join a growth oriented partner and industry leader. This merger will allow Aerosonic to leverage its proprietary air data and display technologies via TransDigm’s broad market presence and financial strength, enhancing the growth prospects of the TransDigm team.”
“We are pleased to have assisted in this transaction through the rendering of a fairness opinion to Aerosonic’s Board of Directors,” said Jeff Bridge. “This transaction highlights Hyde Park Capital’s proficiency in providing investment banking advice and valuation analysis to premier middle market companies, such as Aerosonic.”
About Aerosonic Corporation
Aerosonic designs and manufactures proprietary, highly engineered aviation components for use on commercial and military aircraft. Major product offerings include both mechanical and digital altimeters, airspeed indicators, rate of climb indicators, microprocessor controlled air data test sets, angle of attack stall warning systems, integrated air data sensors and other aircraft sensors, monitoring systems and flight instrumentation. For additional information, visit www.aerosonic.com.
About TransDigm Group Incorporated
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/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators,
NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, specialized cockpit displays, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces and lighting and control technology. For additional information, visit www.transdigm.com.
About Hyde Park Capital
Hyde Park Capital is a middle-market investment banking firm specializing in mergers and acquisitions and capital raising for public and private companies. Our senior bankers have extensive investment banking experience executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine and senior debt. Hyde Park Capital has broad experience across multiple industries and a specific focus on technology, healthcare, business and financial services. In its fourteenth year, Hyde Park Capital is one of the most active investment banking firms in Florida and the Southeast. Our professionals have advised on more than 300 corporate investment banking transactions totaling more than $10 billion in transaction value. We are headquartered in Tampa, Florida and are a member of FINRA and SIPC. For additional information about Hyde Park Capital, visit www.hydeparkcapital.com or call (813) 383-0202.