Global alternative asset manager the Carlyle Group’s portfolio company, Dynamic Precision Group, is 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, Conn.; Burnley, Lancashire, UK; and Orillia, Ontario, Canada.
Dynamic Precision Group, based in Stuart, Fla., 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.
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.
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.