WASHINGTON (dpa-AFX) - Aircraft engine maker GE Aerospace (GE) announced Tuesday that it has signed an agreement to acquire Consolidated Precision Products or CPP from private investment firms Warburg Pincus and Berkshire Partners for $11.75 billion.
The acquisition is expected to be accretive to GE's adjusted earnings per share and free cash flow in the first year.
The transaction is expected to close in the second half of 2027 and will be subject to regulatory approvals and other customary closing conditions.
Cleveland, Ohio -based CPP is a manufacturer of highly engineered castings and sub-assemblies primarily for the commercial aerospace and defense markets. The firm has around 6,600 employees across more than 20 facilities.
GE Aerospace Chairman and CEO Lawrence Culp, Jr., said, 'Investing in mission-critical casting capacity is needed to support the strong simultaneous demand across commercial engines, aftermarket and defense. By combining GE Aerospace's technology capabilities and FLIGHT DECK with CPP's manufacturing experience, we expect to expand capacity, improve performance and accelerate new engine technologies for the current fleet and next-generation platforms.'
GE said it plans to finance the deal price with $7 billion in cash, with the remainder in new debt.
In the deal, Evercore and PJT Partners are the lead financial advisors to GE Aerospace, while Morgan Stanley & Co. LLC and Guggenheim Securities, LLC are the financial advisors to CPP.
In pre-market activity on the NYSE, GE shares were trading at $337.00, down 0.01 percent.
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