Platinum Equity to Acquire Pattonair
Acquisition of UK-based aerospace and defense business expands Platinum Equity's European portfolio and underscores continued commitment to investing in the region
LONDON, UNITED KINGDOM--(Marketwired - August 21, 2017) - Platinum Equity today announced it has signed a definitive agreement 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 is a leading global supply chain provider boasting 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 and Pattonair's leadership team to pursue additional growth, both organically and through prospective add-on acquisitions."
Pattonair CEO Wayne Hollinshead said Pattonair and Platinum Equity are a great fit.
"This is exciting news for our company and our customers and we are thrilled about the prospect of partnering with Platinum Equity," said Mr. 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 and Ecka Granules in the firm's global portfolio of operating companies.
Mr. 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 Mr. 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."
Rothschild & Co. is acting as financial advisor and Latham and Watkins is acting as legal counsel to Platinum Equity on the acquisition of Pattonair. Deutsche Bank will lead a US dollar bond offering in connection with the transaction.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com ) is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations -- a trademarked strategy it calls M&A&OÂ® -- acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 22 years Platinum Equity has completed 200 acquisitions.
Information om Marketwired
Følg pressemeddelelser fra Marketwired
Ved at skrive dig op her, vil du modtage pressemeddelelser på mail når de udsendes. Indtast din mail og følg instruktionerne. Det er ligeså let at melde sig fra igen.
Flere pressemeddelelser fra Marketwired
Jumio23.10.2017 14:01 | pressemeddelelse
Jumio Records Largest Sales Quarter to Date, Extends its Leadership in Financial Services to the Bitcoin and ICO Markets
Jumio23.10.2017 14:01 | pressemeddelelse
Jumio Data Reveals Faked Photos and ID Numbers Are Top Methods of Attempted Fraud Worldwide
General Electric Company20.10.2017 17:50 | pressemeddelelse
General Electric Company: GE files Form 8-K
Bombardier Inc.20.10.2017 17:06 | pressemeddelelse
Media Advisory: Bombardier to host dignitaries in Mirabel for meeting with employees
RenalGuard Solutions, Inc.19.10.2017 15:06 | pressemeddelelse
RenalGuard's Ability to Prevent Contrast-Induced Acute Kidney Injury to be Showcased at TCT 2017
Algeco Scotsman17.10.2017 22:43 | pressemeddelelse
Algeco Scotsman Announces Additional Notes Funding
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum