Arinc Sale Failure Shows That Buyers Won't Overpay
Carlyle's failure to sell Arinc means that inflated multiples in the defense sector won't float right now. Carlyle, the politically connected PE firm, has pulled the plug on its sale of Arinc after six months on the block. Carlyle wanted more than $1 billion for Arinc but got bids that were lower. Arinc designs systems that help airline pilots communicate with the ground. Carlyle is now going to pursue an IPO of Arinc that may launch next year, according to our compadres at Reuters. The failed process means that the "natural buyers of this property aren't going to overpay for assets," says Tess Oxenstierna, head of the aerospace and defense group at Bank Street.
13 September 2010•2 mins read
