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.