The private equity firm The Carlyle Group [CG] yesterday said its portfolio company Dynamic Precision Group has acquired Paradigm Precision Holdings, a provider of highly engineered components for turbine engines serving the commercial aerospace, defense and energy markets.
Terms of the deal were not disclosed.
Dynamic Precision Group, which makes parts found in the combustion section of turbine engines, said the acquisition provides additional components, an expansion of its global footprint and technical know-how. Paradigm Precision, which is based in Arizona, serves a variety of industry customers including General Electric [GE], General Dynamics [GD] Electric Boat, United Technologies [UTX], Honeywell [HON], Britain’s Rolls Royce, Germany’s Siemens, Snecma, which is part of France’s Safran Group, and others.
“We are impressed with Paradigm’s broad capabilities and product portfolio on both current and next-generation engine platforms, and are excited about the combination of these two precision component manufacturers,” Adam Palmer, managing director and head of Carlyle’s Global Aerospace, Defense and Government Services team, said in a statement.
Paradigm has more than 600 employees at four locations in the United States, one in Mexico and one in Tunisia.
Paradigm’s financial adviser on the deal was Lazard Freres.