Hunter Wise Financial Group, LLC, Serves as Financial Advisor for Castle Precision Industries' Acquisition by CIRCOR

IRVINE, CA, Aug. 9 /PRNewswire/ -- Hunter Wise Financial Group, LLC is pleased to announce that its client, privately held Castle Precision Industries (CPI) of Sylmar, California, was recently acquired by CIRCOR Aerospace, Inc., a wholly owned subsidiary of CIRCOR International, Inc., a New York Stock Exchange Company headquartered in Burlington, Mass. Terms of the transaction were not disclosed. Hunter Wise Financial Group, LLC Managing Directors Bill Owen and Bill Peck acted as financial advisors to Castle Precision Industries in the transaction.

CPI manufactures landing gear components, landing gear and actuation sub-systems, and provides Maintenance, Repair and Overhaul (MRO) services to the commercial and military aircraft markets. CPI's manufacturing capabilities and product lines complement the existing landing gear and actuation product lines of CIRCOR Aerospace and will be integrated into CIRCOR's Aerospace segment.

"One does not appreciate the amount of work to negotiate and close an M&A transaction of this type until one goes through the process. Fortunately, I was well advised on legal, tax, accounting and investment banking matters. Castle Precision Industries is a good strategic fit with CIRCOR, a winning combination that will benefit both companies going forward," said Gary Berger, Castle Precision Industries President and CEO.

CIRCOR's Chairman, President and Chief Executive Officer Bill Higgins stated, "The addition of Castle Precision Industries immediately expands CIRCOR's landing gear capabilities and better positions us to meet OEM and aftermarket customer expectations." CIRCOR Aerospace Group Vice President Chris Celtruda commented, "CPI's established reputation, solid product portfolio and strong manufacturing expertise help to diversify CIRCOR's landing gear business into the commercial and aftermarket segments."

CONTACT:

Bill Owen
Managing Director
Hunter Wise Financial Group, LLC
(949) 732-4110
wowen@hunterwise.com

Bill Peck
Managing Director
Hunter Wise Financial Group, LLC
(932) 732-4105
bpeck@hunterwise.com