Industrial Growth Partners (IGP) is pleased to announce that it has entered into a definitive agreement to sell Prince & Izant, LLC (“Prince & Izant” or the “Company”) to TransDigm Group Incorporated (NYSE:TDG) for purchase price of approximately $1.066 billion not inclusive of certain tax benefits. The transaction is subject to regulatory approvals in the United States and customary closing conditions.

Headquartered in Cleveland, OH, Prince & Izant is a leading provider of vertically integrated, specialty materials solutions for mission-critical applications across a diverse range of end markets. Founded in 1927, the Company designs and manufactures highly engineered precious and non-precious metal brazing alloys, precious metal components, and clad metal solutions used in high-cost-of-failure applications across the aerospace & defense, medical, power generation, HVAC/R, transportation, and industrial end markets.

IGP, together with members of the management team, selling shareholders, and certain outside investors, recapitalized Prince & Izant in June 2022. Since then, IGP partnered closely with management to develop and execute a strategic growth plan focused on strengthening the Company’s leadership and organizational capabilities, expanding its product portfolio and end market exposure, and investing in manufacturing capacity. Key initiatives included augmenting the executive team, building out engineering, new product development and global sales resources, expanding vertical integration, and investing in manufacturing capacity and automation. The Company also completed three strategic add-on acquisitions (Clad Metal Specialties, Kay & Associates, and Peltier Manufacturing), which further broadened its product technologies and applications. As a result of these initiatives, Prince & Izant more than doubled EBITDA and significantly expanded margins during IGP’s ownership, while meaningfully increasing its presence in attractive end markets including aerospace & defense, medical, power generation, and data center infrastructure. Together, these investments transformed Prince & Izant into a larger, more diversified specialty materials platform and further strengthened its market leadership.

Matt Brandenburg, CEO of Prince & Izant, commented: “IGP was an exceptional partner, providing the resources, industrial expertise, and strategic guidance that enabled us to accelerate growth, expand our capabilities, and better serve our customers. Together, we invested in new products, added key talent, and completed acquisitions that strengthened our platform across our most attractive end markets. I am incredibly proud of what our team accomplished during our partnership with IGP and am excited about the opportunities ahead. We believe Prince & Izant is exceptionally well positioned for its next chapter of growth as part of TransDigm.”

Dave DiFranco, Managing Partner at IGP, added: “Prince & Izant represents exactly the kind of business we seek to partner with at IGP – a market leader with differentiated, mission-critical products, deep technical expertise, and a world-class management team. Over the course of our partnership, we worked alongside Matt and his team to significantly scale the Company, broaden its capabilities, and meaningfully deepen its exposure to some of the most attractive and critical end markets in the industrial economy, including aerospace & defense, medical, power generation, and data center infrastructure. Today, Prince & Izant is a substantially larger and more strategically valuable business. We are extremely proud of what Matt and the entire Prince & Izant team have accomplished and believe TransDigm is an outstanding partner for the Company’s next chapter of growth.”