Veritas Capital reportedly to buy Chromalloy from Carlyle Group for more than $1.6 billion
Sep. 06, 2022 7:49 AM ETThe Carlyle Group Inc. (CG)By: Gaurav Batavia, SA News Editor
- Private equity firm Veritas Capital Fund Management LLC has agreed to buy aerospace and aeroderivative aftermarket company Chromalloy Gas Turbine LLC from Carlyle Group (NASDAQ:CG) for more than $1.6B including debt, unnamed sources told Reuters.
- The news agency said that the companies could announce the deal as soon as Tuesday. It would represent Veritas Capital’s latest of several acquisitions in the aerospace and defense sector.
- In 2015, Veritas acquired aircraft maintenance company StandardAero Aviation for approximately $2B, then sold it to Carlyle for over $5B in 2018, Reuters said. Veritas also sold engineering company Alion Science and Technology to Huntington Ingalls Industries for $1.65 billion in cash in 2021, the news agency reported.
- Carlyle (CG) and Veritas did not immediately respond to requests for comment.