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Derby Supply chain firm PattonAir signs $1.9bn US merger deal

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Derby Supply chain firm PattonAir signs $1.9bn US merger deal

Gavin Nicholls

patton air

Derby-based supply chain firm Pattonair are set to boost their presence in the global aerospace market after reaching a $1.9bn agreement to merge with US-based Wesco Aircraft Holdings.
Wesco Aircraft Holdings Inc. (NYSE: WAIR), one of the world’s leading distributors and providers of comprehensive supply chain management services to the global aerospace industry, today announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Platinum Equity in a transaction valued at approximately $1.9 billion.
The merger means Pattonair, which provides supply chain management and distribution services to the aerospace and defence sectors and employs 600 people in Derby, will significantly expand its US presence as well as reinforce its operations in Europe, the Middle East, Africa and Asia Pacific.
Pattonair CEO Wayne Hollinshead, said: “This is great news for our company and customers and will create new avenues for growth and expansion. “Wesco is an outstanding business with an impressive track record for innovation and customer service, so we are excited about the prospects of working together.”
Pattonair works with some of the biggest brands in the aerospace and defence industries, including clients such as Rolls Royce and BAE Systems.
“We are excited about the opportunities a combination with Pattonair will provide Wesco. This is the right transaction for our shareholders, customers and employees,” said Todd Renehan, Chief Executive Officer of Wesco Aircraft. “This transaction is a strong validation of our customer value proposition, and it will allow us to find new and innovative ways to bring more value to customers, enhance relationships with suppliers and create additional opportunities for employees.”

Louis Samson, Platinum Equity Partner, said, “Wesco’s broad customer base and industry- leading capabilities have positioned it well to benefit from long-term trends in the aerospace and defence industry. Bringing Wesco and Pattonair together will create a truly global enterprise, benefiting the combined customer base through increased scale and access to new technologies.”

The merger is expected to complete by the end of 2019, subject to Wesco shareholder approval and regulatory clearances.

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