Carlyle Group's Portfolio Co. Buys Manufacturing Units From GE's Unison

(RTTNews) - Global alternative asset manager The Carlyle Group's (CG) portfolio company, Dynamic Precision Group, has agreed 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 (GE). The transaction, with undisclosed terms, may close by the year end.

The facilities acquired provide precision manufacturing capabilities for commercial, military and gas turbine engine components to a blue-chip customer base globally. The sites, employing 825 people, are situated in Manchester, CT; Burnley, Lancashire, UK; and Orillia, Ontario, Canada.

Stuart-based Dynamic Precision 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. 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.

The financing of the transaction was led by RBC Capital Markets and Deutsche Bank. Dynamic Precision Group and Carlyle were advised by Latham & Watkins and PricewaterhouseCoopers.