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Platinum Equity to blend Wesco with Pattonair

12 August 2019
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Aerospace supply chain management service provider Wesco Aircraft Holdings is being acquired by a unit of private equity firm Platinum Equity.

Both parties expect the USD1.9 billion deal to close later this year, with Wesco being delisted from the New York Stock Exchange.

Platinum Equity is funding the transaction with a mix of equity financing from units of Platinum Equity Capital and debt financing from Bank of America Merrill Lynch.

The US-focused Wesco business will complement Platinum Equity-owned Pattonair, which specialises in aerospace supply chain management in the United Kingdom. Wesco CEO Todd Renehan said this combination "will create a truly global enterprise, benefiting the combined customer base through increased scale and access to new technologies".

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