Private equity investor The Carlyle Group plans to help its latest acquisition NP Aerospace expand its international business. The group has agreed to acquire UK-based NP Aerospace from Reinhold Industries for £30 million ($53 million) as part of its Carlyle Europe Technology Partners (CETP) fund.
“NP Aerospace has been predominantly focused on the UK – we think we can bring its technology to bear on other international customers,” says Carlyle managing director David Fitzgerald. Carlyle plans to help NP Aerospace get a foothold in the US market by introducing it to major US-based primes as well as US Department of Defense agencies , says Fitzgerald. “The USA is a strong focus of course, because of Carlyle’s presence, but there are significant opportunities in other countries too.”
Carlyle expects the significant investment in research and development at NP Aerospace to continue. The company’s expertise in composites technology and product design made it an attractive investment, and “we believe it will have a number of applications beyond its existing customers”, says Fitzgerald.
Carlyle, which has invested predominantly in US-based aerospace and defence assets until now, expects to make further, similar acquisitions in Europe, says Fitzgerald: “Aerospace and defence is one of the key strategic areas – we see a number of opportunities with companies ofthat size.”
Coventry-based NP Aerospace supplies composite moulded products to the aerospace, medical imaging, automotive and defence industries.
HELEN MASSY-BERESFORD/LONDON
Source: Flight International