Arcline Investment Management, a growth-oriented private equity firm, has entered into a definitive agreement to acquire Continental Aerospace Technologies for approximately $535 million.
The company is owned by a subsidiary of Aviation Industry Corporation of China.
Founded in 1905 and headquartered in Mobile, Alabama, Continental is a leading designer and manufacturer of piston aircraft engines for the general aviation market.
“Continental is a highly respected platform with a long history of engineering leadership, trusted customer relationships, and mission-critical products that support the global general aviation fleet,” Arcline officials said in a press release. “The company’s technical capabilities, large installed base, and reputation for reliability fit naturally alongside our aerospace and defense systems and subsystems strategy. We look forward to partnering with Continental’s management team and employees to support continued investment in the business and accelerate its next chapter of growth.”
Arcline Investment Management has more than $30 billion in assets under management.
For more information: Arcline.com, Continental.aero
So not to be owned by the Chinese good, perhaps.
Owned by a private equity firm, great, if you own stock and will profit from the sale of all the assets of Continental. The Chinese invested heavily in Continental. I expect Arcline Investment Management to act like an average private equity firm and sell off the company piece by piece making MONEY for investors but no products and leaving industrial wreckage behind.
I am a product of the “Rust Belt” and have seen this play out too many times.
I do hope I am wrong, but hope isn’t much of a plan.
Good news that the Communist Chinese own one less American aerospace company. Now let’s hope that Arcline also acquires Cirrus.
Amen!
It’s good that it’s a US company again, but I’m concerned that prices will increase, again.!
Maybe I should buy a spare cylinder assembly for my GO-300 now .?
On our Facebook page, the Arcline purchase of Continental has produced a rather spirited discussion. If you have a Facebook account, the following link will hopefully work… https://www.facebook.com/share/p/1abhm42Au2/
‘spirited’ but with little worthwhile discussion.!
Thanks for the link….I’ll stay here with other pilots.!