Private equity firm Veritas Capital Fund Management LLC has agreed to buy aircraft parts manufacturer Chromalloy Gas Turbine LLC from Carlyle Group Inc for more than $1.6 billion, including debt, according to people familiar with the matter.
The deal could be announced as early as Tuesday, the sources said, requesting anonymity because the discussions are confidential.
Chromalloy is the only remaining business of Sequa Corporation, which Carlyle invested in in 2007. Carlyle and Veritas did not immediately respond to requests for comment. (Reporting by Chibuike Oguh in New York and Mike Stone in Washington D.C.)