GE Aerospace has agreed to acquire Consolidated Precision Products (CPP), a major maker of engineered aircraft-engine castings, for $11.75 billion in the company's largest deal since it became an independent, standalone business in 2024.
Under the terms announced by GE Aerospace, the company will pay $7 billion in cash, financing the remainder with new debt, to buy CPP from private equity owners Warburg Pincus and Berkshire Partners. The price values CPP at roughly 18 times its projected 2027 earnings once expected synergies are included, or about 26 times without them. GE Aerospace said the deal should add to adjusted earnings per share and free cash flow in its first year, excluding one-time and amortization costs.
Cleveland-based CPP, founded in 1991, employs about 6,600 people across more than 20 facilities worldwide, producing investment and precision sand castings from superalloy, titanium, aluminum, magnesium and steel for commercial and military aircraft, helicopters, weapons systems and industrial gas turbines. It has supplied GE Aerospace for more than 15 years.
Investing in mission-critical casting capacity is needed to support the strong simultaneous demand across commercial engines, aftermarket and defense.
H. Lawrence Culp, Jr., Chairman and CEO, GE Aerospace
CPP Chief Executive James Stewart called GE Aerospace "a great partner to CPP for many years," saying the deal would "further strengthen this long-standing relationship." Warburg Pincus managing director Dan Zamlong said the firm had helped transform CPP "into a leading precision casting company in the industry, with significant investments in its operations, technology, quality systems and talent" during its ownership period.
The acquisition is the latest sign that engine makers are moving to lock down their own supply of forgings and castings — components that have been in chronically short supply and have slowed production ramp-ups for narrow-body jet engines industrywide. By bringing a key supplier in-house, GE Aerospace is betting that direct control of casting capacity will insulate its engine output from the bottlenecks that have dogged the sector for several years.
The transaction, detailed in a regulatory filing, is expected to close in the second half of 2027, subject to antitrust clearance and other customary closing conditions.