BBA Aviation has entered into an agreement to sell Ontic, a provider of ‘Extended Life Solutions’ for Original Equipment Manufacturer (OEM) legacy products, to CVC, a private equity company.
Ontic was acquired by BBA in 2006 and has experienced significant growth through successful acquisitions and license agreements with OEMs, making it a market leader in providing high quality legacy products.
“Ontic has a very bright and exciting future, and this is reflected in the value placed on our business,” says Gareth Hall, president and managing director of Ontic. “We are thankful for all of the support we have received from BBA and we are looking forward to continued success and future growth with CVC.”
Ontic’s global legacy focus is supported by manufacturing and MRO facilities in Chatsworth, California; Creedmoor, North Carolina; Plainview, New York; Cheltenham in the United Kingdom and in Singapore.
The sale agreement is subject to shareholder and regulatory approvals with a completion expected by year end.
Ontic is a wholly owned subsidiary of BBA Aviation, with over 45 years of aerospace product manufacturing and aftermarket support experience. Ontic provides FAA, CAAS, CAAC, TCCA, DCA, EASA Part 21 and 145 OEM support, including new and serviceable spares and repairs for over 6,500 maturing and legacy aircraft parts. Its portfolio of products, licensed or acquired from major OEMs such as Honeywell, UTC Aerospace, Safran, Thales and GE Aviation, span all major aircraft systems in both civil and military markets. For more information, please visit www.ontic.com.
BBA Aviation is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market. We support our customers through three principal businesses: Signature Flight Support, Ontic and Global Engine Services/Engine Repair and Overhaul (ERO).
Signature Flight Support also includes Signature TECHNICAir and EPIC and provides premium, full service flight and home base support including refueling, ground handling and MRO services through the world’s largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. EPIC is a provider of aviation fuels, supplies and services.
Ontic is a provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms with locations in the USA, Europe and Asia. ERO is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East. At the end of May 2018, following a strategic review of the ERO business, management committed to a plan to sell substantially all of this business and the relevant assets and liabilities were classified as held for sale.