Cerberus Acquires Calspan's Hypersonics and Test Systems Business Units from TransDigm and Forms North Wind, a Leading Independent Supplier of Hypersonic Test Infrastructure, Systems and Services

Cerberus Capital Management, L.P. (together with its affiliates, "Cerberus"), a global leader in alternative investing, today announced that it has acquired Calspan's hypersonic and defense test systems business units from TransDigm Group (NYSE:TDG). In acquiring Calspan Aero Systems Engineering and Calspan Systems, Cerberus has established North Wind, an independent business centrally focused on the advancement of the United States' hypersonic test capability through ground-based facility design, build and operations, testing, and analysis.

Headquartered in St. Paul, Minnesota, with decades of specialized experience as a trusted independent partner to the U.S. government's Research, Development, Test & Evaluation (RDT&E) organizations, North Wind is uniquely positioned to serve the demands of its customers with high-quality, customized engineering services and integrated solutions.

The acquisition and subsequent formation of North Wind are led by Cerberus' Supply Chain and Strategic Opportunities platform, which acquires and invests in companies addressing supply chain shortages, defined by critical long-term U.S. national security requirements, to help drive innovation, promote resilient infrastructure, and increase security for the United States and its allies.

Michael Palmer, Senior Managing Director on Cerberus' Supply Chain and Strategic Opportunities platform, said: "We've been tracking this company for a while and admire their innovation and expertise in hypersonics analysis and testing. Enabling the U.S. to meet the great need for hypersonic capabilities, North Wind is an important investment. We couldn't be more thrilled to execute against the team's vision as a well-resourced standalone company."

David Meier, who has been the President and CEO of Calspan Aero Systems Engineering since 2015, will lead North Wind as CEO. Stephanie Mumford, President of Calspan Systems since 2016, will serve as President of the North Wind Systems business unit headquartered in Newport News, Virginia. Dr. Anthony Castrogiovanni, a leading technologist in the hypersonics industry who has served as Calspan's CTO since 2021 and previously founded ACEnT Laboratories, will assume the role of CTO for North Wind.

Mr. Meier added: "We're excited to be joining forces with a like-minded partner in Cerberus to establish North Wind and drive the expansion and modernization of our nation's valuable test infrastructure with a focus on hypersonics. With Cerberus' support and dedicated resources, we're confident that North Wind will thrive."

About North Wind

North Wind is a leading independent supplier of complex hypersonic and Research, Development, Test & Evaluation (RDT&E) systems and services. Leveraging decades of specialized experience, North Wind delivers hypersonic and RDT&E capabilities through five complementary business segments: Applied R&D; Test Articles and Critical System Components; Test Facility Design & Build; Test Services; Flight Testing & Flight Systems. The Company's offerings span the full life cycle of aerospace & defense and commercial systems, including end-to-end turnkey solutions. Learn more at www.north-wind.com.

About Cerberus

Founded in 1992, Cerberus is a global leader in alternative investing with approximately $65 billion in assets complementary credit, real estate, and private equity strategies. We invest across the capital structure where we believe our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.

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