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2005-09-26

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NP Aerospace composite moulded products acquired

Seattle, WA, USA--(Jobwerx News)--Investors acquire largest UK supplier of composite moulded products to the aerospace, medical imaging, automotive and defence industries.

The Carlyle Group, in conjunction with its European technology fund Carlyle Europe Technology Partners (CETP), has agreed to acquire NP Aerospace, a leading UK manufacturer of composite moulded products for £30 million ($54 million) from Reinhold Industries.

NP Aerospace, Coventry, England, founded in 1926, has nearly 200 employees and is one of Europe’s largest suppliers of composite moulded products to the aerospace, medical imaging, automotive and defence industries. The company’s products, which are based on a range of advanced composite materials and proprietary production technologies, include ballistic resistant helmets and body armour, low x-ray absorbent medical structures and light-armoured vehicle structures.

Roger Medwell, CEO of NP Aerospace said, “The management of NP Aerospace are very pleased to have The Carlyle Group as our financial sponsor. We believe that with Carlyle’s global network and industry expertise, it will be an excellent partner in taking NP Aerospace on to the next stage of its development.”

The Carlyle Group will invest in NP Aerospace through its European technology fund, CETP which focuses on investing in established European technology companies. Other recent transactions completed by the CETP team include the acquisition of Cameca, a manufacturer of semiconductor metrology equipment and scientific instruments, and the sale of Inmedia, a satellite transmission services company.

David FitzGerald, Managing Director of The Carlyle Group said, “We are delighted to be partnering with NP Aerospace. We have been very impressed with the company’s expertise in manufacturing composite structures as well as with the enthusiasm of its management team and employees. We look forward to working with them to develop a world-class company.”

Carlyle invests in buyouts, venture capital, real estate and leveraged finance in Asia, Europe and North America, focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, healthcare, industrial, technology & business services and telecommunications & media.

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