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Carlyle exits 15-year investment in Sequa through sale to Veritas Capital

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Carlyle has ended its 15-year ownership of aircraft engine and gas turbine specialist Sequa through a sale to fellow private equity house Veritas Capital.

The buyout giant bought Sequa for $2.7bn in a take-private deal in 2007, and has kept the company’s Chromalloy subsidiary while hiving off its other operations in areas such as precoat metals and its automotive division.

Chromalloy provides engine and turbine components for aircraft through casting, coating and machining.

Veritas CEO Ramzi Musallam said, “Chromalloy has emerged as an industry leader by leveraging technology and innovation to drive a highly unique value proposition for customers.

“We are thrilled to partner with Brian and the entire Chromalloy team, who have a proven track record of delivering differentiated solutions to the global engine ecosystem.”

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The transaction is expected to close in the fourth quarter of 2022.

Earlier this week Carlyle completed a $4.2bn buyout of US defense contractor ManTech International Corp.

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