European private equity firm Bridgepoint has acquired Global Design Technologies from Stirling Square Capital Partners in a transaction worth $343 million. GDT makes permanent couplings used to connect hydraulic, fuel, air and other tubing in all types of aircraft.
Private equity firms
State-owned Dubai Aerospace Enterprise (DAE) agreed last month to purchase Carlyle Group’s Landmark Aviation and Standard Aero Holdings for $1.8 billion. If the deal makes it through the lengthy approval process as proposed, it will be DAE’s first venture into the U.S. market.
Zurich-based worldwide aviation service company Jet Aviation is being acquired by Permira, a European-headquartered private-equity group. With a formal closing expected in late September, the sale will end uncertainty over the fate of the Hirschmann-family-controlled enterprise, which had been informally in play since the family put it on the market in early 2002.
Dubai investment firm Dubai Aerospace Enterprise (DAE) at press time was in “active discussions” with Washington, D.C.-based private-equity firm Carlyle Group to acquire its Standard Aero company and Landmark Aviation, particularly its maintenance, repair and overhaul (MRO) businesses. According to sources familiar with the process, DAE is expected to pay more than $1.5 billion for the two firms.
AIN has confirmed that the Carlyle Group, a Washington-based global private equity firm, is one of three bidders for Raytheon Aircraft. The other potential buyers are Cerberus Capital Management, a New York-headquartered investment firm, and Toronto, Canada, holding company Onex.
Continuing to reduce its reliance on oil exports through diversification, Dubai is backing a $15 billion plan to establish an aviation manufacturing and services industry to add to its portfolio. Dubai Aerospace Enterprise (DAE) will oversee six subsidiary companies that in turn are expected to address 14 related industry segments.
On August 11 European private equity group Permira said it would buy a majority stake in Zurich, Switzerland-based aviation services company Jet Aviation for an undisclosed amount. With a formal closing expected later this month, the sale will end the uncertainty about the fate of the Hirschmann-family-controlled enterprise, which was informally “in play” since it was first put up for sale in early 2002.
Jack DeCrane, 59, president and founder of DeCrane Aircraft Holdings, died on December 29 of complications resulting from lung cancer.
He founded the company in 1989 in the basement of his home. DeCrane described himself as a “small company guy,” yet ended up turning DeCrane Aircraft Holdings into a major player in the completion and refurbishment industry.
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