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Warburg Pincus-backed Consolidated Precision Products to buy Selmet

Cleveland-based Consolidated Precision Products Corp. agreed to pay an undisclosed sum to buy aerospace and defense manufacturing peer Selmet Inc.

The deal is expected to add titanium castings and machined components to Consolidated Precision's product offering, according to a July 5 release.

Consolidated Precision, which is backed by private equity firm Warburg Pincus LLC, makes engineered components and sub-assemblies mainly for the commercial aerospace and defense industries.