Arinc in sale rumours
Private equity firm Carlyle is allegedly seeking to sell aerospace communications company Arinc. According to reports in the US, the fund has mandated Goldman Sachs to manage the process, with price talk around the US$1bn mark.
Carlyle acquired Arinc in…
Private equity firm Carlyle is allegedly seeking to sell aerospace communications company Arinc. According to reports in the US, the fund has mandated Goldman Sachs to manage the process, with price talk around the US$1bn mark.
Carlyle acquired Arinc in 2007 in an LBO worth approximately US$650m, and a secondary buyout has been mooted as a likely outcome of the rumoured process. Potential strategic interest is expected to come from the big aerospace and defence companies such as Lockheed Martin.
Founded in 1929 as Aeronautical Radio Inc, Arinc was previously owned by six US commercial airlines, including American Airlines and United Airlines, before the Carlyle deal. The private equity firm has always been an active player in the aerospace and defence sector, having held stakes in aerospace firm Avio and UK defence and space firm QinetiQ as well as, more recently, purchasing the government-consulting business of Booz Allen Hamilton for US$2.5bn in 2008.
