An affiliate of Veritas Capital (Veritas), a technology and government investment firm, is to acquire Sequa Corporation (Sequa), parent company of Chromalloy, from funds managed by global investment firm Carlyle. Financial terms of the transaction have not been disclosed.
Sequa, through its subsidiary Chromalloy, is a global technology company and a solutions provider for aircraft engines and gas turbines. For over 70 years, Chromalloy’s solutions extended the life of aircraft engines and gas turbines, improving the economics of flight and power generation. Chromalloy is Sequa’s only remaining business, following the sale of its Precoat Metals business to AZZ Inc earlier this year.
The transaction is expected to close in the fourth quarter of 2022.
Read more: Private Equiy Wire
