OpenGate Capital, a global private equity firm, announced today that it has completed the acquisition of the ScioTeq and TREALITY Simulation Visual Systems (“TREALITY”) businesses from TransDigm Group Incorporated (NYSE: TDG). Terms of the acquisition were not disclosed.
ScioTeq and TREALITY develop and manufacture advanced visualization solutions including ruggedized displays and simulation systems to serve a diversified, customer base across avionics, aerospace, air traffic control, and security end markets. Combined, the businesses have approximately 450 employees and operate primarily in Belgium and the United States with a global customer base. TransDigm Group divested the businesses to realign their core business strategy.
Commenting on the acquisition, OpenGate Capital’s Partner and Head of Europe, Julien Lagrèze stated, “OpenGate’s acquisition of ScioTeq and TREALITY is representative of the full suite of our cross-border investment capabilities in action. TransDigm required a buyer with the expertise to acquire a multi-jurisdictional business, which we met with speed and certainty. We intend to capitalize on the strengths of each business to enhance their market positions through organic growth and M&A while accelerating continuous improvement efforts and digital transformation.”
The acquisition of ScioTeq and TREALITY represents the eighth transaction for OpenGate this year following the acquisitions of Verdant Specialty Solutions from Solvay, Kongsberg Precision Cutting Systems from Esko, the InRule Technology add-on acquisition of simMachines, and the realizations of Bois & Materiaux, ENERGI, and the AXTER and Skylights divisions from SMAC.
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: https://www.businesswire.com/news/home/20210630005843/en/