Carlyle Group finalizes purchase of Garrett Aviation
Washington, D.C.-based private-equity firm The Carlyle Group last month completed the acquisition of Garrett Aviation Services from General Electric. Frank Klaus has been named president and chief executive officer of the newly created joint company of Carlyle subsidiaries Garrett Aviation Services, Piedmont Hawthorne Aviation and Associated Air Center. Klaus, who had been president of Garrett Aviation since February last year, named Shawn Vick as executive v-p of sales and marketing. Vick was previously a senior v-p at Bombardier Aerospace. It was not immediately clear whether Carlyle would combine the separate businesses under a single name.