Two of the aviation aftermarket’s largest supply chain specialists will unite following a $1.9 billion acquisition by an affiliate of private equity fund Platinum Equity.
Wesco Aircraft Holdings, the Valencia, California-based providers of parts and equipment distribution and supply management services, was bought out by the U.S. investor last Thursday (Jan. 9). Its completion was confirmed five months after the merger was first mooted in August 2019.
Following the completion of the deal, the company moved to combine Wesco with Pattonair, the UK-headquartered specialist in supply chain management services.
As a combined entity, the company is worth an estimated $2.4 billion with a global footprint in 17 countries while employing more than 4,000 people.
A statement released by Wesco to announce the transaction said the combined entity will be based out of its existing California headquarters and will cater for a customer base of more than 8,400 companies comprised of commercial and defence OEMs and their subcontractors.
Todd Renehan, Wesco Aircraft’s CEO since 2017, will lead the operation as CEO of the combined company while Wayne Hollinshead, Pattonair’s CEO for the past nine years, has been named president.
“Bringing Wesco and Pattonair together will create a truly global enterprise, benefiting the combined customer base through increased scale and access to new technologies,” says Louis Samson, who leads Platinum Equity Partner’s investment teams in the U.S. in New York andGreenwich along with its London, UK operation.
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