Saturday, February 11, 2012

PEU to Foul Edinburgh Air Travel?

The Telegraph (UK) reported:

Global Infrastructure Partners, 3i and a consortium backed by US private equity giant Carlyle Group are due to take an early lead in the race for Edinburgh Airport as the deadline for first-round bids expires this week.

Carlyle is in with merchant bank Noble Grossart.  Did Brintons' founders have any money with Noble Grossart? 

Carlyle owns ARINC, which provides airport technology software and hardware.  It has Sequa Corporation, whose website stated:

Chromalloy Gas Turbine Corporation, Sequa’s largest business unit, provides the airline industry with a broad range of aftermarket services and ranks as the leading independent supplier of advanced repairs for jet engine parts. Chromalloy operates around the world and around the clock, providing airlines with timely, cost-effective, and proven repairs for turbine airfoils and other critical engine parts – repairs that extend the life of the parts and hold down airline maintenance costs.
Last is Wesco Aircraft, an integrated inventory management company for aerospace manufacturers and maintenance firms.

ARINC is the most likely of Carlyle's current affiliates to get spin-off business from Edinburgh Airports, should the Carlyle consortium win.  However, Carlyle could lever its affiliates under Edinburgh's planned maintenance expansion, the green area in the map below:

The Edinburgh Airport would land in Carlyle's Infrastructure section, which holds QUBE, an Australian logistics provider.  QUBE has Australia's leading international air and sea freight logistics provider.

Carlyle's Infrastructure division also has Synagro Technologies, which bribed Rep. John Conyers' wife for Detroit's sewage sludge business.   How appropriate for a PEU, private equity underwriter...

Update 3-9-12:  Carlyle pulled out of bidding, according to sources.