Onex Partners has announced that it has agreed to acquire Farsound, a global provider of supply chain solutions for the aerospace MRO-market. The investment has been made in partnership with Farsound's management team, led by Chief Executive Officer Chris Knott.
Headquartered in Brentwood, England, Farsound specialises in the procurement, supply, and inventory management of high-volume consumable hardware components for aerospace engine overhauls. The company serves as a strategic partner to leading engine MRO providers, supporting key commercial engine platforms. Farsound enhances operational efficiency and engine turnaround times for its customers through its market-leading supply chain management and value-added services. Farsound operates from four facilities located in the UK, US, Canada, and Spain.
“We are excited to partner with Onex for Farsound's next phase of growth. Onex shares our vision for the company's future, and we have been impressed by Onex's experience and track record in helping businesses achieve their growth ambitions. We look forward to working together and amplifying Farsound's growth opportunity through our partnership,” said Chris Knott, Chief Executive Officer Farsound.
This investment builds on Onex Partners' successful long-term track record in the aviation and aerospace sectors and their strategy of investing in businesses with differentiated value propositions in structurally growing end-markets.
The transaction is expected to close later this year, subject to customary closing conditions and regulatory approvals.
Onex was advised by Barclays and Solomon Partners as financial advisors and Latham & Watkins LLP as legal counsel.
