Carlyle Group Portfolio Company Dynamic Precision Group Acquires Eight Manufacturing Facilities from Unison Engine Components
September 05 2013 - 7:00AM
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.comVideos: www.youtube.com/onecarlyleTweets:
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www.carlyle.com/about-carlyle/market-commentary
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
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