Private equity company The Carlyle Group, which has been steadily assembling business aviation assets in recent years, plans to add transportation communications and systems engineering specialist Arinc to its portfolio. Carlyle announced June 5 it had reached a “definitive agreement to acquire Arinc” from its current shareholders—a vast majority of which are both domestic and foreign airlines. The transaction is expected to close in the third quarter. Financial details were not made available. Annapolis, Md.-based Arinc, with annual revenues of more than $900 million, develops and operates communications and information processing systems and provides systems engineering and integration solutions, including business aviation flight planning services. Carlyle will add Arinc to its current and recent former holdings that include business aviation services and product providers Aviall Services, Composite Structures, Landmark Aviation and Standard Aero Holdings. “We have worked hard to find a partner who shares our vision and believe that Carlyle’s international presence, financial resources and expertise in the aerospace, defense and communications sectors will be instrumental in the continued expansion of our business,” said Arinc chairman and CEO John Belcher.
Carlyle Adds Arinc to Business Aviation Assets
- July 10, 2007, 11:34 AM