This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Carlyle Group Portfolio Company Dynamic Precision Group Acquires Eight Manufacturing Facilities From Unison Engine Components

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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,246.83 +89.98 0.52%
S&P 500 2,009.15 +7.58 0.38%
NASDAQ 4,585.6040 +23.4150 0.51%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs