UK-based Pattonair, a provider of supply chain services for MRO and airframe manufacturer customers, has been acquired by U.S. private equity company Platinum Equity.
Based in Beverley Hills, California, Platinum Equity takes ownership of Pattonair from London-headquartered Exponent Private Equity.
Financial terms of the transaction were not disclosed by any party. The transaction is expected to close during the fourth quarter of 2017.
In a statement confirming the deal on Monday (Aug. 21), Platinum Equity partner Louis Samson cited the proven management team and strong long-term customer relationships of Pattonair, which operates from Derby and also runs facilities in Singapore, China, Poland, Brazil, Canada and five cities in the U.S.
Pattonair CEO Wayne Hollinshead said both parties are a good fit.
“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,” he said.