Wesco Aircraft Enters into Definitive Merger Agreement to be Acquired by Affiliate of Platinum Equity

August 16, 2019

Willkie is providing financing legal counsel to Pattonair, a Platinum Equity portfolio company in the transaction.

On August 9, 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, announced 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. Upon closing, Wesco will be combined with Platinum Equity portfolio company Pattonair, a provider of supply chain management services for the aerospace and defense industries based in the UK.

The transaction will be financed through a combination of committed equity financing provided by affiliates of Platinum Equity Capital Partners IV, L.P., as well as debt financing that has been committed to by Bank of America Merrill Lynch. Upon the completion of the transaction, Wesco will become a privately held company, and shares of its common stock no longer will be listed on any public market.

Wesco Aircraft is one of the world’s leading distributors and providers of comprehensive supply chain management services to the global aerospace industry. Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world in a broad range of markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Pattonair is a leading global aerospace and defense supply chain provider, with over 40 years of experience in the industry.

The Willkie team that handled the debt financing commitments for Pattonair was led by partners Cristopher Greer and Joshua Deason and included associates Jason Pearl and Sabine Houben. This team and others at Willkie will continue to represent Pattonair in connection with the debt financing and entry into the definitive debt financing agreements upon closing of the merger.