PE-backed Mechtronix acquired for Textron's training and simulation business

Montréal-based Mechtronix Inc, a manufacturer of pilot training equipment, including flight simulators, full flight trainers and flight training devices, has been bought by Textron Inc (NYSE: TXT). The company was acquired along with OPINICUS Corp, and will be combined with Textron's training and simulation operations, which serve the military aircraft market through its facilities in Goose Creek, South Carolina. While the acquisition price was not disclosed, one source pegged it at about US$125 million for both businesses. Mechtronix is a portfolio investment of Canadian private equity firm Richardson Capital. Richardson invested $39 million in the company in Sept. 2008.

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