MidOcean Partners has announced the completed sale of Noranco to Precision Castparts (NYSE: PCP). The deal, valued at $560 million when announced in July, reportedly generated a 2.2x return for MidOcean. Noranco supplies complex machined components and assemblies for mission-critical landing gear, aerostructures and aero-engine applications to the aerospace industry. Lazard acted as exclusive financial advisor to the company in the transaction. MidOcean acquired Noranco with co-investors in April 2013.