US company threatening to break deal with Meggitt hits back at criticism

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TransDigm started out as an investment vehicle, Stein said, but now “also emphasizes responsible growth and a reinvestment mandate – one cannot go without the other.

Rather than buying companies and dismantling them, he said TransDigm only invests to grow in a socially responsible way – we are not a nameless and faceless company just to line our pockets.

Earlier this year, TransDigm completed the $ 1 billion acquisition of the aerodynamic connectivity division of Cobham, the company which was controversially acquired by US private equity firm Advent two years ago. .

Mr Stein said he had a friendly conversation with Mr Kwarteng about the transaction, saying he plans to triple investments in the company that makes antennas and radios used in aerospace.

The transaction gave him confidence to do business in Britain, he said, adding that we had no concerns about it in general, referring to assurances that aerodynamic connectivity operations in the UK would be preserved.

Although he said he was unable to discuss the details of an offer for Meggitt, or even if one would be made, Mr Stein added: We are not worried about making commitments; we have done it before and will do it again. “

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