GE Aerospace To Buy CPP for $11.75 Billion - GE Aerospace (NYSE:GE)

GE Aerospace (NYSE:GE) said Tuesday it agreed to acquire Consolidated Precision Products, or CPP, for $11.75 billion. The deal will expand GE’s casting capacity as demand grows across commercial aviation, aftermarket services and defense.

GE Aerospace will buy CPP from private investment firms Warburg Pincus and Berkshire Partners.

Expanding Aerospace Manufacturing Capacity

CPP makes highly engineered castings and subassemblies for commercial aerospace and defense customers. The Cleveland-based company employs about 6,600 people across more than 20 facilities.

GE Aerospace has been a CPP customer for more than 15 years.