Platinum Equity Acquires British Aerospace Parts Distributor

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Platinum Equity Acquires British Aerospace Parts Distributor
Tom Gores

Platinum Equity announced Monday plans to acquire United Kingdom-based aerospace and defense parts distributor Pattonair from Exponent Private Equity.

Financial terms of the deal were not disclosed, but Exponent acquired Pattonair from Umeco for approximately $240 million in 2011. Pattonair has facilities in Singapore, China, Poland, Brazil, Canada and five cities in the United States.

The acquisition is Beverly Hills-based Platinum Equity’s latest European investment, joining Exterion Media, Worldwide Flight Services, Terratest and Ecka Granules in the firm’s portfolio of portfolio companies.

The transaction is expected to close during the fourth quarter of this year. The deal comes out of Platinum Equity’s $6.5 billion flagship fund, which closed earlier this year.

Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

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