WASHINGTON, Dec. 4 (UPI) -- A portfolio company of the Carlyle Group has acquired eight aerospace component fabrication and machining facilities from Unison Engine Components.
The facilities acquired by Dynamic Precision Group, which does business under the name of Paradigm Precision, are located in the United States, Canada and Britain and significantly expand the company's capability to design and manufacture components used in gas turbine engines for the military and civilian markets.
"We are excited about the addition of these assets and the strong employee base and technical know-how they bring to Paradigm Precision," said Greg Bennett, president and chief executive officer of Paradigm Precision. "This acquisition will enable us to expand our capabilities and better serve our customers."
Added Adam Palmer, managing director and head of Carlyle's Global Aerospace, Defense and Government Services team: "We are impressed with the diverse capabilities and product portfolio these businesses will add to Paradigm Precision. This transaction will substantially contribute to our goal of building a well-capitalized, highly capable supplier to the aero engine market."
Acquisition financing was led by RBC Capital Markets and Deutsche Bank but additional details were not provided.
Unison Engine Components is a subsidiary of GE Aviation.
