The Carlyle Group Acquires a Controlling Interest in Stellex Aerostructures, Inc.

Lebanon, NJ - Stellex Aerostructures, Inc. and The Carlyle Group announced today that The Carlyle Group, a global private investment firm with headquarters in Washington DC, has successfully completed a tender offer for a majority of the company’s common stock. As a result, a Carlyle affiliate owns a controlling stake in the company. Stellex Aerostructures, Inc. will continue to operate as a privately held, stand-alone company and the existing management team will remain in place.

Mr. Raymond Whiteman, a Managing Director of The Carlyle Group stated: “We look forward to working with Ray Benvenuti and his management team and to providing Stellex with the resources to further position the company as a world-class supplier to its customers and partners globally.”

Mr. Raynard Benvenuti, President and CEO of Stellex Aerostructures, Inc. commented: “We are delighted that The Carlyle Group has become the lead investor in Stellex. As our partner, their aerospace experience and investment resources will allow Stellex to aggressively grow the business through new aircraft programs, joint ventures, and acquisitions.”

Stellex Aerostructures is a leading provider of highly engineered subsystems and components for the aerospace and defense industries. Stellex Aerostructures operates four divisions: Stellex Monitor Aerospace, Inc., Stellex Precision Machining, Inc., Stellex Bandy Machining, Inc., and General Inspection Laboratories, Inc. Monitor and Precision Machining are leaders in the manufacturing of large complex machined parts and structural sub-assemblies for the aerospace industry. Bandy Machining provides precision aircraft hinges and other structural components for the aerospace and space industries. General Inspection Laboratories provides non-destructive testing services to aerospace component manufactures in the Southern California region.

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