M&A Deal Summary

Veritas Capital Acquires Chromalloy

On September 15, 2022, private equity firm Veritas Capital acquired aerospace company Chromalloy from The Carlyle Group

Acquisition Highlights
  • This is Veritas Capital’s 2nd transaction in the Aerospace sector.
  • This is Veritas Capital’s 37th transaction in the United States.
  • This is Veritas Capital’s 3rd transaction in Florida.

M&A Deal Summary
Date 2022-09-15
Target Chromalloy
Sector Aerospace
Buyer(s) Veritas Capital
Sellers(s) The Carlyle Group
Deal Type Secondary Buyout
Advisor(s) Evercore Group
BofA Securities (Financial)
Latham & Watkins (Legal)

Target

Chromalloy

Palm Beach Gardens, Florida, United States
Chromalloy is an independent provider of aftermarket engine parts and repairs to the commercial aerospace, military aerospace, and energy end markets. The Company's capabilities include advanced engineering, design, manufacturing, and repair solutions. Chromalloy has facilities in North America, Europe, and Asia. Chromalloy is based in Palm Beach Gardens, Florida.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States
Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 37 of 41
Sector (Aerospace) 2 of 2
Type (Secondary Buyout) 7 of 7
State (Florida) 3 of 3
Country (United States) 37 of 40
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Coronis Health

Sykesville, Maryland, United States

Coronis Health is a scaled revenue cycle management platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the US. Coronis Health was founded in 2015 and is based in Sykesville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-13 Frontgrade Technologies

Colorado Springs, Colorado, United States

Frontgrade Technologies is a producer of mission critical components and assemblies for satellites and defense platforms primarily for the government and intelligence community. The Company is a supplier of high-reliability (hi-rel) and radiation hardened (rad-hard) components, high-fidelity signal processing, and power management solutions. Frontgrade Technologies is based in Colorado Springs, Colorado.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 453 of 481
Sector (Aerospace) 13 of 15
Type (Secondary Buyout) 107 of 117
State (Florida) 10 of 11
Country (United States) 249 of 259
Year (2022) 15 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-07 Extreme Reach

Dedham, Massachusetts, United States

Extreme Reach is a provider of integrated cross-media video advertising and talent solutions that span TV, Web, Mobile, and all other video media. Extreme Reach was founded in 2008 and is based in Dedham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-19 McCauley

Dublin, Ireland

McCauley operates 35 stores nationwide on high streets, in shopping centers, retail parks, and medical centers that are focused on Health, Wellness, and Beauty and are renowned for their premium brands, high levels of staff training and excellent customer service. McCauley was founded in 1953 and is based in Dublin, Ireland.

Sell €50M
Mergr

Product

Company

Legal