Platinum Equity is to to acquire Pattonair, the aerospace and defence supply chain provider from Exponent Private Equity.
Financial terms of the transaction were not disclosed. The transaction is expected to close during the fourth quarter of 2017.
Pattonair is based in Derby, and supports 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.
CEO Wayne Hollinshead said: “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.”