Houlihan Lokey Advises Calspan Corporation

Houlihan Lokey is pleased to announce that Calspan Corporation (Calspan) has been acquired by TransDigm Group (NYSE:TDG). The acquisition by TransDigm Group will leave Calspan well positioned for future stability and success, affording a smooth and lasting transition from the company’s current private ownership. The transaction closed on May 8, 2023.

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. With the rapid development of hypersonic systems recognized as a national priority for the U.S. and its allies, Calspan plays a key role in contributing to the advancement of hypersonic testing by leveraging decades of unique and specialized experience.

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/electromechanical 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.

Houlihan Lokey served as the exclusive financial advisor and assisted in marketing, structuring, and negotiating the transaction on behalf of Calspan and its shareholders. This transaction exemplifies the breadth and preeminence of Houlihan Lokey’s M&A expertise while highlighting the cross-collaborative success between the firm’s testing, inspection, certification, and compliance and aerospace and defense coverage efforts.