Oak Hill Capital Partners, among others, has agreed to sell Firth Rixson to Alcoa (NYSE: AA) for $2.85 billion: $2.35 billion in cash, $500 million in common stock and an additional $150 million performance earn-out. Morgan Stanley is fully committing a bridge facility, with Alcoa issuing the remainder. Known best for making aerospace jet engine components, Firth Rixson also makes other engineered material applications for mining and oilfield component markets. Its revenues are expected to grow 60% over the next three years, from $1 billion in 2013 to $1.6 billion. Oak Hill Capital Partners bought Firth Rixson from Lehman Brothers and The Carlyle Group for about $2 billion in 2007.