MidOcean, PSP to Sell Noranco to Precision Castparts
July 29, 2015
MidOcean Partners and PSP Investments have entered into a definitive agreement to sell portfolio company Noranco to Precision Castparts (NYSE: PCP). Backed by MidOcean and PSP since April 2013, Noranco is a supplier of complex machined components and assemblies for mission-critical landing gear, aerostructures and aero-engine applications to the aerospace industry. The deal is reportedly valued at $560 million. Lazard acted as exclusive financial advisor to Noranco in connection with the transaction.