WASHINGTON--(BUSINESS WIRE)--
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today
announced that its portfolio company Dynamic Precision Group has signed
an agreement to acquire eight aerospace component fabrication and
machining facilities located on three sites in the U.S., Canada and the
UK, which design, manufacture and integrate components and systems for
aircraft engines and airframes from Unison Engine Components, a
subsidiary of GE Aviation. The transaction is expected to close by year
end and terms were not disclosed.
The acquired facilities provide precision manufacturing capabilities for
commercial, military and gas turbine engine components to a blue-chip
customer base worldwide. The sites, which employ 825 people, are located
in Manchester, CT; Burnley, Lancashire, UK; and Orillia, Ontario, Canada.
Greg Bennett, President and CEO of Dynamic Precision Group, said, "We
are excited about the addition of these assets and the strong employee
base and technical know-how they bring to Dynamic Precision Group. This
acquisition will enable us to expand our capabilities and better serve
our customers."
Adam Palmer, Managing Director and Head of Carlyle's Global Aerospace,
Defense and Government Services team, said, "We are impressed with the
diverse capabilities and product portfolio these businesses will add to
Dynamic Precision Group. This transaction will substantially contribute
to our goal of building a well-capitalized, highly capable supplier to
the aero engine market."
Dynamic Precision Group, based in Stuart, FL, is an independent
manufacturer of complex components, specializing in the combustion, or
"hot section," of turbine engines used in commercial and military
aviation as well as industrial gas turbine applications.
Acquisition financing was led by RBC Capital Markets and Deutsche Bank.
Dynamic Precision Group and Carlyle were advised by Latham & Watkins and
PricewaterhouseCoopers.
Dynamic Precision Group is a portfolio company of Carlyle Partners V,
Carlyle Equity Opportunity Fund, Carlyle Strategic Partners II,
AeroEquity Partners and other co-investors.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with approximately $180 billion of assets under management in 118 active
funds and 81 fund of fund vehicles as of June 30, 2013. Carlyle invests
across four segments — Corporate Private Equity, Real Assets, Global
Market Strategies and Fund of Funds Solutions — in Africa, Asia,
Australia, Europe, the Middle East, North America and South America.
Carlyle has developed expertise in various industries, including:
aerospace, defense & government services, consumer & retail, energy,
financial services, healthcare, industrial, technology & business
services, telecommunications & media and transportation. The Carlyle
Group employs more than 1,400 people in 34 offices across six continents.
Web: www.carlyle.com
Videos:
www.youtube.com/onecarlyle
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www.twitter.com/onecarlyle
Podcasts:
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About Dynamic Precision Group
Dynamic Precision Group ("DPG") is a portfolio company of The Carlyle
Group and AeroEquity. DPG is a global leader in the manufacture of
complex machined and fabricated assemblies for the Aerospace, Defense
and Power Generation markets. DPG acquired TurboCombuster Technology in
2011, which specializes in the production of critical aircraft engine
components, and Paradigm Precision in 2013, which specializes in the
manufacturing of complex, high-tolerance machined and fabricated
components for gas turbine engines. DPG's core capabilities include
laser services, air flow measurement, thermal coatings, electrical
discharge machining, precision machining and TCT Blast™.
www.gotodpg.com
The Carlyle Group
Liz Gill, +1-202-729-5385
elizabeth.gill@carlyle.com
Source: The Carlyle Group
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