Arcline Investment Management, a growth-oriented private equity firm, today announced it has entered into a definitive agreement to acquire the holding company of Continental Aerospace Technologies, Inc. for a total consideration of approximately $535 million. The delisting transaction is supported by irrevocable undertakings from the controlling shareholders, subsidiaries 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 and provider of related aftermarket products and services for the general aviation market. Continental has built a trusted position in general aviation for more than a century through engineering excellence, product reliability and customer support. The Company's portfolio includes both AvGas and Jet-A engines, as well as aftermarket products and services that support a large global installed base of general aviation aircraft. Continental's highly engineered products are essential to safe and reliable aircraft operations, serving aircraft owners, operators and OEM customers around the world.

Arcline commented, "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. The Company's technical capabilities, large installed base and reputation for reliability fit naturally alongside our aerospace and defence 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."

J.P. Morgan Securities LLC is serving as exclusive financial advisor, and Freshfields LLP is serving as legal advisor to Arcline in connection with the transaction.