Welcome
Mergers & Antitrust Law News

Platinum to Buy Parts Supplier Wesco Aircraft for $1.1 Billion

Aug. 9, 2019, 1:34 PM

An affiliate of Platinum Equity agreed to buy Wesco Aircraft Holdings Inc., a distributor of aviation and defense parts, for $1.1 billion.

Wesco shareholders will get $11.05 a share in cash, a 14% premium over the closing price May 24, the last trading day before media speculation about a potential transaction. When the deal closes, the Valencia, Calif.-based company will be combined with Pattonair, a Platinum Equity business, Wesco said in a statement Aug. 9.

The deal boosts Platinum’s exposure to the burgeoning aerospace industry, which is benefiting from rising air travel worldwide. Wesco, which counts Carlyle Group LP and...

To read the full article log in. To learn more about a subscription click here.