Carlyle Group LP is closing in on purchasing StandardAero Inc. for more than $5 billion, including debt, Reuters reported, citing people familiar with the matter.
The potential transaction, which would be Carlyle's second major leveraged buyout in 2018, could be announced as early as the week of Dec. 17, the sources told the news outlet.
However, discussions between Carlyle and Veritas Capital Fund Management LLC, owner of the aviation services company, could still fall through, the people added.
It was reported earlier that Carlyle, along with Blackstone Group LP and Warburg Pincus LLC, moved to the final round of acquisition bids for StandardAero.
StandardAero was owned by Carlyle in 2004 before it was sold to Dubai Aerospace Enterprise (DAE) Ltd. in 2007. Dubai Aerospace divested StandardAero to Veritas for $2.1 billion in 2015, including debt.
Neither StandardAero nor Veritas immediately responded when Reuters contacted them for comments. Carlyle did not comment on the matter.