GARDENA, Calif., June 27, 2013 /PRNewswire/ -- Permaswage Holding SAS (Permaswage), the world-leading designer and manufacturer of aerospace fluid fittings, an investment of the European private equity firm Bridgepoint, has been sold, subject to regulatory approvals, to Precision Castparts Corp. (PCC) (PCP) in a $600 million, all cash, transaction.

(Logo: http://photos.prnewswire.com/prnh/20101213/LA13515LOGO)

Permaswage is the technology leader in the fluid fitting industry providing proprietary and standard components, tooling, and training to all major aerospace companies globally. Permaswage products can be found on virtually every major commercial and military aircraft program. Permaswage operates from manufacturing locations in Gardena CA, USA; Les Clayes-sous-Bois, France; and Suzhou, China, and employs 680 people worldwide.

"The acquisition of Permaswage by PCC provides our company, and all its employees, a very capable and resourceful new home," said Andrew Roberts, president and chief executive officer of Permaswage. He added, "Under the Bridgepoint ownership since 2007 the company has been allowed to develop and expand rapidly and I have every confidence that this will continue as we go forward under the PCC umbrella."

The company expects the transaction to be completed during the third quarter of 2013.

Advisers acting in this transaction on behalf of the company included: Lazard (exclusive financial advisor); KPMG (financial vendor assistance), CSP Associates (commercial vendor assistance), Clifford Chance (legal).

For further information:

Andrew Roberts

Permaswage

Tel: +1-310-217-3119

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Permaswage -- World-Leading Designer And Manufacturer Of Aerospace Fluid Fittings -- Acquired By Precision Castparts ...