#PRIVATE EQUITY CAI Sells TurboCombustor Technology
PRNewswire via COMTEX/ -- CAI Private Equity ("CAI"), a firm with a North American investment mandate and a special focus on Canada, is pleased to announce the sale of a majority interest in portfolio company
TurboCombustor Technology Inc. ("TCT"). AeroEquity, Inc., ("AeroEquity"), a CAI co-investor dedicated to investments in aerospace, will continue to be an investor in TCT. Financial terms of the transaction were not disclosed.
TCT, a leading manufacturer of highly engineered combustors and related "hot section" engine components for aerospace and industrial power generation applications, was acquired in early 2004 by CAI and AeroEquity. In partnership with CAI, TCT's management team implemented operational improvements, including lean manufacturing techniques and Six-Sigma principles, resulting in significantly improved performance throughout the course of CAI's investment.
"TCT possesses strong technical advantages over its competitors through a robust suite of intellectual property and manufacturing know-how," said Dale Tingley, a Managing Director at CAI. "TCT has a growing order backlog and has experienced significant growth in its customer base, having added important new customers during CAI's ownership."
TCT is one of several investments that CAI has made in the Aerospace & Defense sector, and CAI is actively seeking additional investment opportunities within the industry.
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| About CAI Private Equity Founded in 1989, CAI Private Equity has offices in New York, Toronto, Vancouver and Montreal and a North American investment mandate specializing in buyouts, restructurings and acquisitions. CAI's broad operational and financial expertise and ready access to capital position it as a valued partner for proven, motivated management teams. To date, CAI's four funds have invested, or placed with co-investors, more than $1.3 billion in equity or equity-related investments to help fund growth and corporate transition. For additional information, visit http://www.caifunds.com/ . |
TurboCombustor Technology is a leading manufacturer of complex combustors and related products used in gas turbine engines. The Company's products are used extensively in aviation, marine and land-based applications within the aerospace and industrial markets. The Company employs more than 350 skilled workers in facilities that cover more than 130,000 square feet. TCT was founded in 1951, and is based in Stuart, Fla. For additional information, visit http://www.tct-inc.com/
Contact:@Marc Raybin Broadgate Consultants (212) 232-2222
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