June 9, 2003
Warburg Pincus announces agreement to acquire aerospace component manufacturer TransDigm Inc. from Odyssey Partners LLC in a leveraged recapitalization.
On June 9, Willkie client Warburg Pincus announced that it entered into a definitive agreement to acquire aerospace component manufacturer TransDigm Inc. from Odyssey Partners LLC in a leveraged recapitalization. The Wall Street Journal and Reuters reported that Warburg beat three other competitors by offering to pay approximately $1.1 billion. Warburg will not assume TransDigm’s debt, which is close to $400 million. The June 9 Daily Deal, which noted Willkie as counsel to Warburg, reported that Credit Suisse First Boston plans to lead a bank syndicate that would provide roughly a $700 million credit facility to help finance Warburg’s purchase. The June 12 New York Law Journal noted that the Willkie team, led by Steven Gartner, is as follows: Corporate: Steven Gartner, David Boston, Russell Leaf; Credit Agreements: William Hiller, William Stelwagon; Employee Benefits: Frank Daniele, Peter Haller; Tax: Andrew Needham; Intellectual Property: Kim Walker; Environmental: Carolyn Conkling, Richard Waddington, Arthur Rheingold.
