Aerospace Manufacturers Paradigm Precision, Whitcraft Group to Merge - Modern Distribution Management

Aerospace Manufacturers Paradigm Precision, Whitcraft Group to Merge

The merger, facilitated by a duo of private equity firms, will create a leading supplier in the aerospace industry.
Paradigm

Two private equity firms are investing to facilitate a merger between gas turbine engine components manufacturer Paradigm Precision and aerospace components manufacturer Whitcraft Group. The partnering equity firms — Clayton, Dubilier & Rice (CD&R) and Greenbriar Equity Group — announced the definitive agreements Nov. 30. Financial terms of the transactions were not disclosed.

The combination of Ohio-based Paradigm and Connecticut-based Whitcraft will create a “scaled and diversified manufacturer of complex, high-tolerance components used in commercial and military aviation engines” that expects to be a leading supplier in the aerospace industry, according to a news release from CD&R. Paradigm is currently majority owned by global investment firm Carlyle, while Whitcraft is a Greenbriar portfolio company.

Want to be a master of M&A? MDM’s 2023 M&A Virtual Summit, held Feb. 21-22, will deliver everything you need to know. Get the details and register here.

“We are excited to work with the Whitcraft and Paradigm management teams, alongside Greenbriar, a leading industrials investor, to enhance the continued execution of their customer-centric operations and growth strategy,” CD&R funds Operating Advisor Ray Conner said. “We look forward to bringing together the best of both of these companies by driving operational improvements and an increased capability set that we believe will benefit customers and the commercial and military aviation engine market at large.”

Conner, formerly President and CEO of Boeing Commercial Aviation, will become chairman of the combined company upon consummation of the transactions, according to the release.

“Over the last five years, our partnership with and investment from Greenbriar has advanced our strategy and enhanced our focus on operational excellence, and we believe this next step with Paradigm and CD&R will unlock even greater improvement opportunities for our customers and our employees,” Whitcraft CEO Doug Folsom said.

“We look forward to this combination with Whitcraft and support from CD&R and Greenbriar, which we believe will enable us to strengthen our mission-critical offerings to even more customers around the world,” Paradigm President and CEO Steve Croke said. “We remain committed to delivering innovative solutions to help solve complex manufacturing challenges while also continuing to foster a world-class working environment for our employees.”

Both transactions are expected to close in early 2023.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.