Courtesy of Benzinga.
CAI Private Equity, 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. AeroEquity, Inc., 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 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.
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