GE Aerospace to acquire Consolidated Precision Products for $11.75 billion
GE Aerospace announced an agreement to acquire Consolidated Precision Products (CPP) from Warburg Pincus and Berkshire Partners for $11.75 billion, a deal GE says will be accretive to adjusted EPS and free cash flow in the first year. CPP, founded in 1991 and headquartered in Cleveland, is one of the world's largest makers of investment and precision sand castings, with about 6,600 employees across more than 20 facilities and products in super alloys, titanium, aluminum, magnesium and steel. GE said the acquisition will add casting capacity to meet strong demand across commercial engines, aftermarket and defense and accelerate engine technology deployment.
GE Aerospace will acquire CPP for $11.75 billion
Context
Demand for engine castings is strong across commercial, aftermarket and defense. GE has been a CPP customer for over fifteen years. Next steps could include capacity expansion, process integration and manufacturing readiness for new…
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