CD&R and Greenbriar to acquire, and merge, two aviation component companies

Clayton, Dubilier & Rice and Greenbriar Equity agreed to acquire Paradigm Precision, which provides complex machining, fabrications and assemblies for engine manufacturers, from Carlyle Group.

CD&R, also alongside Greenbriar Equity, will acquire Whitcraft Group, which makes precision formed, machined and fabricated flight-critical aerospace components, with plans to combine the two companies. Greenbriar first invested in Whitcraft, an existing portfolio company, in 2017.

The combination of Paradigm and Whitcraft will create a scaled and diversified manufacturer of complex, high-tolerance components for commercial and military aviation engines.

Ray Conner, operating adviser to CD&R and former president and CEO of Boeing Commercial Aviation, will become chairman of the combined company.

“We look forward to bringing together the best of both of these companies by driving operational improvements and an increased capability set that we believe will benefit customers and the commercial and military aviation engine market at large,” Conner said in a statement.

Both transaction are expected to close in 2023, subject to customary closing conditions.