Dynamic Precision Group To Buy Manufacturing Facilities
Dynamic Precision Group has signed an agreement to acquire eight aerospace component fabrication and machining facilities located at three sites in the U.S., Canada and the UK. The Stuart, Fla.-based company is an independent manufacturer of complex components, specializing in the hot section of turbine engines used in commercial and military aircraft and in industrial applications. All three facilities design, manufacture and integrate components and systems for aircraft engines and airframes from Unison Engine Components, a subsidiary of GE Aviation.
Greg Bennett, president and CEO of Dynamic Precision Group, said, “We are excited about the addition of these assets and the strong employee base and technical know-how they bring to Dynamic Precision Group. This acquisition will enable us to expand our capabilities and better serve our customers.”
The transaction is expected to close by year-end; terms were not disclosed.
The sites, which employ 825 people, are located in Manchester, Conn; Burnley, Lancashire, UK; and Orillia, Ontario, Canada.