Private equity-backed aircraft replacement parts distributor Pattonair is reportedly preparing to sell itself for more than $500m.
Pattonair’s private equity owner Exponent has been interviewing banks to manage a sale, said Reuters, citing people familiar with the matter.
Exponent bought Pattonair for £140m in 2011 and the company could be sold for ten to 12 times its current EBITDA of $50m.
Last October it was reported that Exponent hired UBS to explore a potential exit from Ambassador Theatre Group.
Suitors were said to include fellow buyout firms BC Partners, Blackstone, Carlyle, Charterhouse, Lion Capital and Permira.
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