Platinum Equity to acquire Pattonair

Platinum Equity has signed a definitive agreement to acquire global aerospace and defense supply chain provider Pattonair from Exponent Private Equity. Financial terms of the transaction were not disclosed. The transaction is expected to close during the fourth quarter of 2017. Headquartered in Derby, UK, Pattonair is a leading global supply chain provider boasting a 40-year legacy of excellence and innovation in the sector. The company supports blue chip engine and airframe manufacturers and MRO customers with tailored supply chain management solutions. It offers a global service though dedicated facilities in Singapore, China, Poland, Brazil, Canada and five cities in the United States. Pattonair CEO Wayne Hollinshead said: “This is exciting news for our company and our customers and we are thrilled about the prospect of partnering with Platinum Equity,” said Mr. Hollinshead. “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.”