The Carlyle Group to Invest in Wesco Aircraft

Washington, DC – Global private equity firm The Carlyle Group today announced that it has reached a definitive agreement to acquire a majority ownership position in Wesco Aircraft Hardware Corp. and its affiliates (Wesco), a global distributor of aerospace hardware and provider of inventory management services. The existing management team, led by President and Chief Executive Officer Randy Snyder, will retain a significant ownership position in the company. The transaction is expected to close in the third quarter of 2006. Financial terms were not disclosed.

Founded in 1953, Wesco is a distributor of aerospace hardware including fasteners, rivets, nuts, bolts, screws, clamps and bearings. The company also distributes machined parts and installation tooling, and provides just-in-time inventory management services to a growing number of commercial and government customers. Wesco currently serves more than 5,000 customers including many of the major aerospace original equipment manufacturers and suppliers and the U.S. Department of Defense. Wesco employs more than 600 people throughout the United States, Canada, the United Kingdom, France, Germany and Israel. Following the transaction, the company’s headquarters will remain in Valencia, California and current senior management, including President and CEO Randy Snyder, will continue to lead the business.

Wesco President and Chief Executive Officer Randy Snyder said, "We look forward to partnering with The Carlyle Group as Wesco enters the next phase of its corporate growth. Carlyle is firmly committed to the aerospace industry and has an excellent track record of working with its portfolio companies to implement best practices and achieve sustained growth. Our focus will continue to be on providing our customers with superior levels of product quality and on-time delivery, while developing innovative services to support their operations and plans for growth."

Carlyle Managing Director and Head of the Global Aerospace & Defense Group Peter J. Clare said, "We look forward to working with Randy Snyder and his management team as Wesco continues to execute on its growth plans for the future. We see considerable opportunity for internal and external growth, and with its talented workforce, we believe the company will thrive in the coming years."

Carlyle Managing Director Adam J. Palmer added, "We are impressed with the customer-centric culture that Randy Snyder and his entire management team have created at Wesco. The company is positioned for significant growth as its investment in infrastructure and inventory enable it to offer its customers meaningful cost savings while reducing part shortages, internal overhead and inventory levels on the shop floor. We are committed to supporting Wesco’s plan for long-term growth as the company continues to increase its product and service offerings to a growing base of valued customers."

Duff & Phelps Securities, LLC served as Wesco’s exclusive investment banking advisor in this transaction and Carlyle was advised by Rothschild and Lehman Brothers.

Wesco Aircraft
Founded in 1953, Wesco is a distributor of aerospace hardware including fasteners, rivets, nuts, bolts, screws, clamps and bearings. The company also distributes machined parts and installation tooling, and provides just-in-time inventory management services to a growing number of commercial and government customers. Wesco currently serves more than 5,000 customers including many of the major aerospace original equipment manufacturers and suppliers and the U.S. Department of Defense. Wesco employs more than 600 people throughout the United States, Canada, the United Kingdom, France, Germany and Israel. For more information, visit www.wescoair.com/ .