© andreypopov dreamstime.com Electronics Production | July 09, 2018
Consolidated Precision Products acquires Selmet
Consolidated Precision Products Corp. (CPP), manufacturer of components and sub-assemblies primarily for the commercial aerospace and defense markets, has reached a definitive agreement to acquire Selmet, Inc.
Terms of the transaction were not disclosed. "We have long admired Selmet's world-class technical capabilities, longstanding customer relationships, strong management team and track record of growth," said James Stewart, Chief Executive Officer of CPP. "This highly complementary acquisition will round out our product offering to include titanium castings, enabling us to meet the strong demand from customers seeking advanced titanium content for next-generation platforms. We are pleased to welcome the talented Selmet team to the CPP family." "We believe the combination of CPP and Selmet's products creates a highly attractive and comprehensive platform for CPP's customers in the aerospace and defense industries," said Dan Zamlong, Managing Director, Warburg Pincus. "We look forward to continuing to support CPP and its future growth."