MidOcean Partners, PSP Investments complete Noranco sale
MidOcean Partners has completed its sale of Noranco Inc to Precision Castparts Corp (NYSE: PCP). No financial terms were disclosed; however, as reported by PE Hub Canada in July, Precision said it had agreed to pay US$560 million for the business. Lazard advised Noranco on the transaction. Based in Toronto, Noranco is a supplier of complex machined components and assemblies for the international commercial and military aerospace sectors. Its sale also provided an exit to Canadian pension fund manager PSP Investments, which partnered with MidOcean in acquiring Noranco in April 2013.
2 November 2015•2 mins read
