Warburg Pincus Completes Recapitalization of Consolidated Precision Products Corp.
NEW YORK and POMONA, Calif., Oct. 12, 2011 /PRNewswire/ -- Consolidated Precision Products Corp. ("CPP"), a leading manufacturer of highly-engineered castings serving the commercial aerospace, military and industrial markets, today announced that Warburg Pincus, a leading global private equity firm, successfully closed on its previously announced recapitalization agreement with Arlington Capital Partners, a Washington, DC based private equity firm. Terms of the transaction were not disclosed.
Morgan Stanley & Co, LLC and Lazard served as financial advisors and Kirkland & Ellis served as legal advisor to CPP. UBS Investment Bank served as financial advisor and Cleary Gottlieb Steen & Hamilton served as legal advisor to Warburg Pincus. GE Capital and Ares Capital provided debt financing for the transaction.
About Consolidated Precision Products Corp. (CPP):
Consolidated Precision Products Corp. ("CPP"), headquartered in Pomona, California, is a leading manufacturer of highly-engineered components and sub-assemblies for the commercial aerospace and defense markets. Founded in 1991, CPP is one of the world's largest investment and precision sand casting companies, producing complex super alloy, aluminum, magnesium and steel components for a wide variety of leading commercial and military aircraft, weapon systems, regional/business jets and helicopters. The Company serves a wide range of global, blue chip customers including, Boeing, Airbus, Hamilton Sundstrand, General Electric, Honeywell, Pratt and Whitney, and Lockheed Martin on platforms such as the 737, 777, 787, A320, A340, F-35 Joint Strike Fighter, F-22 Raptor, Apache, V-22. For more information about CPP, visit www.cppcorp.com.
About Warburg Pincus:
Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $35 billion in over 650 companies in more than 30 countries.
The firm is an active investor in the industrial, aerospace and defense sectors. Over the past eight years, former and current aerospace and defense related investments have included TransDigm Group Inc., CAMP, Extant Components Group, QuEST Global Services and Survitec.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more information, please visit www.warburgpincus.com.
About Arlington Capital:
Arlington Capital Partners is a Washington, DC-based private equity fund with $1.5 billion of committed capital focused on middle market investment opportunities in growth industries including: aerospace/defense, healthcare services, government contracting, education & training, and business services. The firm's professionals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company's position as leading competitors in their field.
Consolidated Precision Products Corp. (CPP)
Steve Clodfelter, CEO
(909) 839-2201 or firstname.lastname@example.org
SOURCE Warburg Pincus
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