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| - OpenGate Capital, a global private equity firm, announced today that it has signed a definitive agreement to acquire the ScioTeq and TREALITY Simulation Visual Systems ("TREALITY") businesses from TransDigm Group Incorporated (NYSE: TDG). The acquisition is subject to regulatory approvals and customary closing conditions. Terms of the agreement were not disclosed. ScioTeq and TREALITY develop and manufacture advanced visualization solutions primarily for the global defense, air traffic control, and security end markets. Combined, the businesses have approximately 450 employees and primary operations in Belgium and the United States. Commenting on the acquisition agreement, OpenGate Capital's Founder and Chief Executive Officer Andrew Nikou stated, "We are very excited to have reached this agreement with TransDigm. ScioTeq and TREALITY are both well-established businesses and represent the type of investment where we can utilize our global operations team to build upon the success of these businesses and guide them toward a new chapter of growth." TransDigm Group is divesting the businesses to realign their core business strategy. The acquisition is expected to be complete within the second quarter of 2021. Lazard Frères & Co. LLC acted as OpenGate Capital's exclusive M&A and Financing advisor, Morgan, Lewis & Bockius LLP served as Legal counsel, while Deutsche Bank AG is the sole arranger of the senior secured acquisition financing facility. About OpenGate Capital OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate's professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital, through its legacy and fund investments, has executed more than 30 acquisitions including corporate carve-outs, management buyouts, special situations, and transactions with private sellers across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com. View source version on businesswire.com: Contact OpenGate Media Contacts Prosek Partners Email: Pro-opengate@prosek.com Alanna Chaffin Co-Head, Investor Relations & Communications Email: AChaffin@opengatecapital.com Telephone: +1 310-432-7000 OpenGate Business Development Contact Joshua Adams Email: jadams@opengatecapital.com Telephone: +1 (310) 432-7000 © 2021 Business Wire, Inc. Disclaimer: This material is not an AFP editorial material, and AFP shall not bear responsibility for the accuracy of its content. In case you have any questions about the content, kindly refer to the contact person/entity mentioned in the text of the release.
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