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Article: ARINC sold to Carlyle Group
- Article from:
- Capital (Annapolis)
- Article date:
- July 6, 2007
- Author:
CopyrightCopyright 2007 Capital (Annapolis). Provided by ProQuest LLC. (Hide copyright information)
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ARINC, one of the county's largest private employers, announced
yesterday that it will be sold to powerful global private equity firm
The Carlyle Group in a move officials said could lead to significant
growth.
The deal should give ARINC, an avionics firm with roughly 1,400
local workers, a chance to grasp future business opportunities after
it was put up for sale by the cash-strapped airline companies that
own it. The sale should be finalized by the third quarter. Terms of
the deal were not released.
ARINC officials said the impact on the local work force, if any,
remains unclear.
"I think that the idea of going after private equity was to
provide investment for us to grow," said Linda ...