Platinum Equity is set to acquire global aerospace and defense supply chain provider Pattonair from Exponent Private Equity. Financial terms of the transaction were not disclosed. The transaction is expected to close during the fourth quarter of 2017.
Headquartered in Derby, UK, Pattonair has a 40-year legacy of excellence and innovation in the sector. The company supports blue chip engine and airframe manufacturers and MRO customers with tailored supply chain management solutions. It offers a global service though dedicated facilities in Singapore, China, Poland, Brazil, Canada and five cities in the United States.
“Pattonair is a well-respected business with a proven management team and strong long-term customer relationships,” said Platinum Equity partner Louis Samson. “We share the company’s commitment to exceptional customer service and look forward to partnering with Wayne [Pattonair CEO Wayne Hollinshead] and Pattonair’s leadership team to pursue additional growth, both organically and through prospective add-on acquisitions.”
“This is exciting news for our company and our customers and we are thrilled about the prospect of partnering with Platinum Equity,” said Hollinshead. “Platinum has exceptional operational and M&A capabilities, a strong presence in Europe and a track record of helping portfolio companies reach their full potential.”
Pattonair represents Platinum Equity’s latest European investment, joining Exterion Media, Worldwide Flight Services, Terratest, Ecka Granules and Electro Rent in the firm’s global portfolio of operating companies.
Samson said Europe is an important focus for Platinum Equity as it continues deploying its most recent fund, Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund.
“We have more than 20 years of experience in Europe, a dedicated team in London and our portfolio companies employ more than 16,000 people in the region,” said Samson. “We have the capital base and the depth of experience to continue growing our European portfolio and will remain very active in this market.”