Global private equity firm The Carlyle Group has reached a definitive agreement to acquire ARINC Incorporated from its current shareholders, including several prominent commercial airlines. The…
Global private equity firm The Carlyle Group has reached a definitive agreement to acquire ARINC Incorporated from its current shareholders, including several prominent commercial airlines. The transaction is expected to close in the third quarter of 2007 subject to regulatory approval and other customary closing conditions.
This is an important step in the evolution of ARINC, said John M. Belcher, Chairman and CEO of ARINC Incorporated. We have worked very 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. With the support of our dedicated and talented employees, ARINC is committed to maintaining the highest levels of customer service and industry leadership.
Peter Clare, Carlyle Managing Director and Head of the Global Aerospace and Defense sector team, said, We have long admired ARINC`s leadership position and impressive track record of growth. We believe that ARINC is well positioned to capitalize on several favorable macro trends in both its commercial and government market segments.
Ian Fujiyama, the Carlyle Managing Director who led the transaction, added, John and his team have successfully leveraged ARINC`s unique domain expertise and technology leadership to offer innovative new solutions to its customers. We look forward to partnering with ARINC in continuing to build on its record of success.
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