Greenbriar Equity Group is nearing an agreement to acquire Spectrum Control from fellow private equity firm AEA Investors in a transaction that could value the aerospace and defence components maker at more than $1.8bn, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as saying that a deal could be announced as soon as this week, although discussions remain ongoing and could still be disrupted. Another bidder could emerge or AEA could ultimately decide to retain the business, the people said.
Greenbriar is understood to have prevailed over a number of industrial companies competing to acquire Spectrum Control, which manufactures radio frequency and microwave components used in aerospace, defence and other applications.
Representatives for Greenbriar and AEA reportedly declined to comment, while Spectrum Control reportedly did not respond to requests for comment.
A transaction would represent a significant private equity deal in the aerospace and defence sector at a time when strategic buyers and public markets have accounted for several of the industry’s larger transactions.
Earlier this month, GE Aerospace agreed to acquire Consolidated Precision Products for approximately $12bn, adding to a series of sizeable strategic transactions in the sector.
