Private equity firm The Carlyle Group has agreed to buy Maryland-based transportation communications and systems engineering company ARINC Incorporated from its current shareholders.
The transaction, for which financial details have not been disclosed, is expected to close in the third quarter of 2007 subject to regulatory approval and other standard closing conditions.
ARINC provides global engineering services for airports, aviation, defence, government and surface transportation industries. It has 3,300 employees in 100 offices around the world, and generates annual revenues of more than $900m.
‘We believe that Carlyle’s international presence, financial resources and expertise in the aerospace, defence and communications sectors will be instrumental in the continued expansion of our business,’ said John M Belcher, chairman and CEO of ARINC.
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