TransDigm Group has announced the acquisition of SEI Industries Ltd., the makers of the popular Bambi Bucket — a proprietary collapsible firefighting bucket that’s used around the world to combat wildfires.
Kevin Stein, TransDigm’s president and CEO, said in a statement last month that the company is “excited about the acquisition of SEI Industries.”
“[SEI] is widely known in the industry for its highly engineered and specialized products, which fit well with our proprietary and aftermarket-focused value-generation strategy,” Stein said.
The acquisition includes SEI’s 12 international repair stations that provide aftermarket support to its customers. In addition to the Bambi Bucket, the Delta, British Columbia, company also develops other highly engineered products for aerial firefighting and liquid transportation solutions, such as remote refueling.
“SEI’s innovative products and excellent customer service at its global repair centers have created a strong portfolio of established, long-term customers,” Stein said “As with all TransDigm acquisitions, we expect the SEI acquisition to create equity value in line with our long-term private equity-like return objectives.”
SEI’s revenues are derived from both the commercial and defense aerospace markets, with about 85 percent of its revenues coming from the aftermarket. The company employs around 80 people and is expected to generate around $30 million in revenue by the end of 2024.
The acquisition will see SEI join TransDigm’s group of companies, including DART Aerospace, which also develops aerial firefighting systems, along with emergency flotation systems, landing gear components, and external load equipment, among other products.
The acquisition was financed through existing cash on hand.
