Sequa acquired by private equity firm

By Lisa Kerner

Charlotte, N.C., Dec. 3 - The Carlyle Group, through its affiliate Blue Jay Acquisition Corp., completed its $2.7 billion acquisition of Sequa Corp.

Sequa shareholders will receive $175 per share, according to a form 8-K filing with the Securities and Exchange Commission. Carlyle acquired all outstanding class A and class B Sequa shares.

It was previously reported that Carlyle, a private equity firm, would fund the acquisition through a combination of equity contributed by affiliated investment funds along with external debt financing provided by Lehman Brothers, Citigroup and JPMorgan.

Sequa is a New York diversified manufacturing company with six operating units: aerospace, automotive, metal coating, specialty chemical, industrial machinery and other products.

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