United Flexible, Inc., a portfolio company of Arlington Capital Partners has entered into a definitive merger agreement to acquire Kreisler Manufacturing Corporation (OTC: KRSL) for USD18.00 per share, the company said.
Kreisler is a manufacturer of precision metal components and assemblies for use in commercial and military aircraft engines as well as industrial gas turbines. The agreement to acquire Kreisler will further United Flexible´s strategy of designing and manufacturing high pressure and high temperature gas and fluid conduits into mission critical systems for OEMs. The combined company will have approximately 700 employees.
The transaction is expected to close in the second quarter of 2016, subject to certain closing conditions. Upon closing, Michael Stern, Kreisler´s president and chief executive officer, will join United Flexible´s senior management team as president of Kreisler.
United Flexible offers design, development, manufacture and support of performance critical flexible engineered solutions for the transfer of fluids and gases in extreme environments. The company is a proactive partner to OEMs and distributors, operating in several attractive end-markets including aerospace/defense, satellite, power generation, general industrial, oil/gas, cooling and transportation.
Arlington Capital Partners is a Washington, D.C.-based private equity firm that has managed USD1.5 billion of committed capital via three investment funds, focused on middle market investment opportunities in government related growth industries including: aerospace/defense, government services and technology, healthcare, and business services and software.