TransDigm Group is writing a ten-figure check for one of Cleveland’s quieter industrial stalwarts. The aerospace supplier has agreed to buy Prince & Izant, a specialty brazing-alloys and precision-metals maker based in the city, in an all-cash deal valued at roughly $1.07 billion, announced today.
The move pulls a longtime local manufacturer and its Cleveland facility into TransDigm’s portfolio of niche aerospace suppliers, along with several other U.S. plants that support aftermarket demand. Prince & Izant, which employs about 220 people, provides materials used in high-stakes aerospace and defense applications. Both companies say the transaction is still subject to customary closing conditions.
According to a press release, TransDigm will pay approximately $1.066 billion in cash, including certain tax benefits, for the company currently owned by Industrial Growth Partners. TransDigm Group said Prince & Izant is expected to generate about $360 million in revenue for the calendar year ending Dec. 31, and that it operates manufacturing sites in Cleveland, Tinley Park, Illinois, Franksville, Wisconsin, and Bay Shore, New York. TransDigm CEO Mike Lisman said, “We are excited to have an agreement to acquire Prince & Izant,” calling the company’s proprietary products a close fit with TransDigm’s acquisition criteria. The companies note that the deal is subject to U.S. regulatory approvals and other customary closing conditions.
IGP Was The Seller
Prince & Izant was owned by Industrial Growth Partners (IGP), which acquired the company in 2022 and has been using it as a platform for engineered-materials expansion. Industrial Growth Partners materials show the firm worked with Prince & Izant’s management to scale the business and complete recent strategic add-on acquisitions, including Clad Metal and Peltier.
What Prince & Izant Makes
Prince & Izant produces brazing filler metals, high-purity precious-metal solutions and specialty alloys for aerospace, defense, medical and other industrial markets, according to the company. Prince & Izant highlights its metallurgy expertise and technical support for mission-critical parts. The press release also notes that the company offers nearly 10,000 active SKUs and derives the majority of its revenue from aftermarket sales, a profile TransDigm has favored in past acquisitions.
TransDigm’s Acquisition Pattern
This deal fits a familiar pattern for TransDigm, which has spent years snapping up highly specialized aerospace suppliers. In investor materials and filings, the company has pointed to its prior acquisitions and its focus on proprietary aftermarket businesses as central to delivering long-term, private-equity-style returns. TransDigm Group places the Prince & Izant purchase squarely in that broader merger-and-acquisition strategy.
What This Means For Cleveland
Crain's Cleveland Business reported the transaction today, underscoring Prince & Izant’s Cleveland roots and its U.S. manufacturing footprint. The announcement does not spell out when the deal will close or whether TransDigm plans any immediate operational changes at Prince & Izant’s plants. Local suppliers and engineers who rely on the company’s alloys and brazing materials will be watching closely to see whether TransDigm keeps Prince & Izant’s current aftermarket servicing priorities in place.
Next Steps
The companies say the sale will close once required regulatory approvals and other customary conditions are satisfied. A Form 8-K filed around the announcement recaps the press release and related disclosures, and investors will be tracking future filings and any integration plans that could affect the Cleveland facility.
