United Flexible, (United Flexible), a portfolio company of Arlington Capital Partners, is to acquire Kreisler Manufacturing Corporation (Kreisler) for USD18.00 per share.
Headquartered in Elmwood Park, NJ, Kreisler is a manufacturer of precision metal components and assemblies for use in commercial and military aircraft engines as well as industrial gas turbines. The agreement to acquire Kreisler will further United Flexible’s strategy of becoming the preeminent designer and manufacturer of high pressure and high temperature gas and fluid conduits into mission critical systems for OEMs. The combined company will have approximately 700 employees.
John Devine, CEO of United Flexible, says: “With the addition of Kreisler’s deep customer relationships and highly developed engineering capabilities, United Flexible will be uniquely positioned to better serve the highly attractive aero engine manufacturing community. As one of the few established fixed tube and complex conduit suppliers to commercial and military aircraft engine and IGT OEMs, Kreisler complements United Flexible’s product line and uniquely supports United Flexible’s vast growth potential as a whole.”
Michael Stern, Kreisler’s President and Chief Executive Officer, says: “We are pleased to be joining with United Flexible, an organization that shares our passion for providing customers with highly engineered solutions to critical performance challenges. United has both the global reach and the diversified industry exposure that we believe will provide Kreisler with the ideal platform to leverage our half century of aerospace experience for further growth. As such, this combination will provide our employees with personal growth opportunities, our customers with a wider breadth of products and a deeper pool of resources. We are excited to begin the next chapter in Kreisler’s evolution, as this transaction will provide us with additional resources to develop new products and enter new markets that will only serve to strengthen the Kreisler brand.”
Peter Manos, a Managing Partner at Arlington Capital Partners, says: “We are excited about how well Kreisler fits our acquisition strategy of building one of the leading suppliers of high pressure and extreme temperature conduit systems. The addition of Kreisler’s highly engineered precision metal fixed tube manufacturing capability uniquely augments United Flexible’s ability to deliver differentiated and innovative solutions to its customers, and we look forward to continuing to support United Flexible’s organic and M&A expansion.”
