Released on September 12, 2011

Consolidated Precision Products Corp. (CPP), Pomona, Calif., announced it will be recapitalized by Warburg Pincus, New York.

The primarily aerospace caster said the private equity firm, in partnership with the company’s existing management team, has reached an agreement with the company’s current financial sponsor, Arlington Capital Partners, Washington, D.C. Terms of the transaction, which is expected to close in the fourth quarter of 2011, were not disclosed.

“We believe Warburg Pincus is an ideal partner for CPP’s growth and expansion in the coming years,” said Steve Clodfelter, CPP’s chief executive officer and president. “Warburg Pincus has deep domain expertise in aerospace and defense, as well as a known track record of strengthening the global platforms of its portfolio companies.”

CPP operates nine casting plants and a rapid prototyping division in North America and Europe. It manufactures superalloy, aluminum, magnesium and steel components for the commercial aerospace and defense markets in the investment and precision sand casting processes. CPP’s customer list includes, Boeing, Airbus, Hamilton Sundstrand, General Electric, Honeywell, Pratt and Whitney and Lockheed Martin.

“In CPP, we are pleased to be partnering with an outstanding management team,” said Michael Graff, managing director of Warburg Pincus. “Building on CPP’s long-standing customer relationships, exceptional technical capability and customer service, we believe the company is well positioned for continued growth.”