|
|
| WENCOR GROUP, LLC ACQUIRED BY ODYSSEY INVESTMENT PARTNERS | | Springville, UT - February 2, 2010 | Wencor Group, LLC (“Wencor”), a leading distributor of aftermarket parts and provider of Parts Manufacturer Approval (“PMA”) parts to the commercial aircraft sector, today announced that it has been acquired by Odyssey Investment Partners, LLC, a leading middle-market private equity firm with more than $2 billion under management. Wencor’s founder, Brent Wood, is investing in the transaction alongside Odyssey. Financial terms of the transaction were not disclosed.
| Wencor’s catalogue includes over 3,000 independently developed PMA parts for customers -- including airlines, maintenance, repair and overhaul shops (“MROs”) and original equipment manufacturers (“OEMs”). Wencor’s distribution business provides a natural channel for PMA parts and represents a significant competitive advantage for the company.
| Mr. Wood said, “I am very proud of what we’ve accomplished at Wencor over the years and believe that we have great potential in our end-markets. Odyssey is an ideal partner for us as we enter this next stage of our development given its extensive experience and success in the aerospace business. We are excited about our new partnership and the opportunities it will create for our customers and employees.”
| Bill Hopkins, a Managing Principal and Co-President of Odyssey Investment Partners, said, “Odyssey has a strong track record of investing in market-leading aerospace companies. Wencor is a great success story that is well positioned to pursue a wide range of growth opportunities in the future. We look forward to building on Brent Wood’s vision and to working closely with the Wencor management team to enhance the company’s value.”
| Wencor is Odyssey’s fifth aerospace investment in the past fifteen years. Past investments include Aviation Technologies, Inc., a leading supplier of electrical and electro-mechanical aircraft components; TransDigm, Inc., a leading supplier of aircraft components; TriStar Aerospace, one of the largest distributors of aerospace fasteners; and Tri-Star Electronics International, Inc., a leading interconnect component manufacturer. Under Odyssey’s ownership, these companies completed a total of nine add-on acquisitions.
| About Odyssey Investment Partners
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, primarily makes majority, controlled investments typically in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, LLC, please visit www.odysseyinvestment.com.
| About The Wencor Group
Wencor is a worldwide industry leader in the manufacture and delivery of commercial aircraft parts. For over 50 years Wencor has been providing proven parts and reliable service to customers around the globe. From OEM to PMA parts Wencor is committed to delivering superior value while reducing aircraft maintenance costs. To learn more about Wencor, visit www.wencor.com.
| |
Wencor
www.wencor.com
Springville, UT
801-489-2000
Copyright, Wencor, 2008
|
| | Edit This Press Release |
|
