“When TEAC Aerospace Technologies was faced with choosing from among multiple potential investors and strategic buyers, Thayer | Hidden Creek quickly emerged as the unanimous choice of the management team. Their professionalism, integrity, focus and energy throughout the process was unmatched. After six months of operation under the Thayer | Hidden Creek banner, our choice was validated. Thayer | Hidden Creek provided the leadership, resources and assistance to take us to the next stage. Their strongest asset was their willingness to listen and their support of our management team.”
– Dave Husted, CEO, TEAC Aerospace Technologies
TEAC Aerospace Technologies, Inc., ("TEAC") is a leading global supplier of airborne video and data recording products, as well as debriefing systems to the defense industry. TEAC is also a key provider of distributed in-flight entertainment systems to the commercial airline industry. Customers include the various departments of the U.S. military, allied nations, major defense prime contractors, and commercial airlines.
Thayer | Hidden Creek Value Add
The Thayer | Hidden Creek team worked alongside TEAC’s management on a variety of key initiatives during its ownership. Because TEAC Aerospace was divested by its parent company, TEAC Corporation of Japan, Thayer | Hidden Creek was instrumental in helping transition the business from a collection of assets, intellectual property and employees to a stand-alone business with fully functional independent capabilities. During the course of the ownership period, TEAC moved its headquarters to an independent facility, developed stand alone information technology and accounting capabilities, established a new independent supply chain and second sourced numerous components historically manufactured by the parent. Furthermore, by augmenting the incumbent Chief Executive Officer with a new Chief Operating Officer, Chief Financial Officer, and additional engineering and program management staff (increased headcount in these areas in excess of 50%), TEAC was able to successfully develop and deploy a comprehensive digital product line ensuring TEAC’s technology was aligned with future market trends resulting in substantial growth.
Outcome
In April 2008, Thayer | Hidden Creek sold TEAC to Goodrich Corporation. Goodrich, a Fortune 500 company, is a global supplier of systems and services to the aerospace, defense and homeland security markets. Goodrich is headquartered in Charlotte, North Carolina and employs more than 24,000 people worldwide in over 90 facilities across 16 countries.
