US mid-market private equity firm Odyssey Investment Partners has acquired the Wencor Group, a manufacturer and distributor of aircraft parts. Imperial Capital acted as financial adviser on the transaction.
Brian Zaumeyer, principal of Odyssey, said, “Odyssey has a long track record of success in aviation. Wencor is a leading player and a unique franchise in the growing parts manufacturer approval (PMA) sector of the aviation aftermarket. Imperial Capital’s role in assisting us with this transaction was critical to its success.”
Founded in 1955, Wencor provides aircraft parts to repair stations, operators of general aviation aircraft, and commercial airlines across the world.
Jason Reese, chairman and CEO of Imperial Capital, said, “This is a very exciting transaction for both parties. It represents a big change at the top of the exciting PMA parts sector of the aviation aftermarket.”
Odyssey typically invests in companies with EBITDA in the range of $20m to $80m. Target sectors include aerospace, equipment rental, localised services, distribution, insurance services, healthcare services, general industrial, energy, packaging, safety products and supply chain management. With offices in New York and Los Angeles, the firm has more than $2bn under management. Its last fund, Odyssey Investment Partners IV, closed on $1.5bn last March.
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