Gores’ Platinum to Take Aerospace Firm Private for $1 Billion

Platinum Equity Advisors LLC struck a deal to buy Canadian aerospace manufacturer Héroux-Devtek Inc. for about $1 billion, including debt, with the support of Quebec’s largest pension fund.

Platinum, the private equity firm run by Detroit Pistons basketball team owner Tom Gores, agreed to pay C$32.50 in cash per share, a 28% premium to Wednesday’s closing price. Héroux-Devtek’s senior management, including Executive Chairman Gilles Labbé, will roll over some of their shares.

Héroux-Devtek, the world’s third-largest maker of landing gear, expects the deal to close before the end of March 2025, according to astatementThursday. The shares ...