Praxair to sell aviation services business

SAN FRANCISCO, April 4 (Reuters) - Industrial gases company Praxair Inc. (PX.N: Quote , Profile , Research ) said on Tuesday it will sell the aviation services division of unit Praxair Surface Technologies to a new company set up by private equity firm Gridiron Capital.

The terms of the transaction, which is expected to close in the second quarter, were not disclosed.

Gridiron Capital is lead investor in the acquisition and investment firm Skyview Capital is a minority participant.

Praxair said the aviation services business has 520 employees and 250 aviation customers. It repairs aviation engine and airframe components and applies protective coatings to the repaired parts.