Dynamic Precision (DPG), an aerospace parts maker backed by Nasdaq-listed buyout giant Carlyle, has expanded its offering with the acquisition of energy turbine maker Paradigm Precision Holdings (PPH).
PPH is a Peabody, Massachusetts-based provider of turbine engine parts, which serves the commercial aerospace, defence and energy end markets.
The business has more than 600 employees and operates from six locations in Peabody and Malden, Massachusetts; East Berlin, Connecticut; Tempe, Arizona; Guaymas, Mexico; and Tunis, Tunisia.
'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, defence and government services team, said in a statement.
Stuart, Florida-based DPG also includes TurboCombustor Technology (TT), which makes parts for the combustion sections of turbine engines used in commercial and military aviation, as well as industrial gas turbine applications.
TT operates facilities in Stuart, Florida; Cincinnati, Ohio; and Budapest, Hungary.
Acquisition financing was arranged by RBS Citizens and SunTrust Robinson Humphrey.
Dynamic Precision Group and Carlyle were advised by Latham & Watkins and PricewaterhouseCoopers, while Paradigm Precision was advised by Lazard Freres.