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ARINC Sold To Rockwell Collins For $1.39 Billion

| August 11, 2013, 09:46 PM | 0 Comments

arinc_0_75569RTT News is reporting that ARINC, one of Anne Arundel County’s largest employers, has been sold to Rockwell Collins for $1.39 billion.

Communications and aviation electronics maker Rockwell Collins, Inc. (COL: Quote) agreed Sunday to acquire flight systems company Arinc, Inc., a portfolio company of private-equity giant Carlyle Group (CG: Quote), for $1.39 billion. The transaction is expected to close upon receipt of regulatory approvals and other customary conditions.

The New York Times, also confirming the sale stated that ARINC’s current owner, Carlyle Group, is divesting existing holdings.

The deal is also the latest effort by a private equity firm to sell off portfolio companies to cash out of its investments, either through a merger or an initial public offering. Carlyle officials have indicated that the firm will focus on divesting existing holdings slightly more than buying new businesses, taking advantage of high company valuations.

ARINC has been shedding jobs over the past three years as they sold off portions of their business. It has yet to be determined how many jobs will be lost as a result of the acquisition or if the company will remain in Annapolis or be relocated elsewhere. Rockwell Collins is based in Cedar Rapids, IA.

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Category: Businesses, LIFE IN THE AREA, Local News, NEWS

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