Private equity firm Veritas Capital Fund Management has agreed to buy aircraft parts manufacturer Chromalloy Gas Turbine from Carlyle Group for more than $1.6bn, including debt, according to people familiar with the matter.
The deal could be announced as early as Tuesday, said the sources, who requested anonymity because the discussions are confidential.
Palm Beach Gardens, Florida-based Chromalloy is the only remaining business of Sequa Corporation, which Carlyle acquired in 2007.
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