NEW YORK – Private equity firm Carlyle Group LP is preparing to sell aerospace and defense company Arinc Inc and HAD hired JPMorgan Chase and Evercore Partners Inc to advise on the process, people familiar with the matter said.
Arinc, which the buyout firm bought from six U.S. airlines in 2007 for an undisclosed sum, is expected to draw interest mostly from larger aerospace industry rivals and may fetch $1.2 billion to $1.5 billion in a sale, the people said.
The auction is expected to be launched later this spring, they added.
The people asked not to be named because the auction is not public. Carlyle did not have immediate comment, while JPMorgan and Evercore declined to comment.
(Reporting by Soyoung Kim in New York; Editing by Leslie Adler)