The Harris Williams team was led by Jon Nemo, Chris Rogers, Doug Kinard and Chris Smith from Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group. The sale of Wencor represents the ninth transaction announced by the ADG Group since its formation in June 2010.
“Wencor is a truly unique commercial aerospace business serving the aftermarket maintenance needs of its large and growing customer base,” said Jon Nemo, managing director in Harris Williams & Co.’s ADG Group. “This successful transaction reflects the strong demand for differentiated platforms in commercial aerospace.”
Wencor is a provider of aftermarket components to the commercial, military and general aviation aircraft sectors. Customers include commercial airlines and maintenance, repair and overhaul (MRO) providers. Wencor’s Parts Manufacturer Approval (PMA) catalogue includes approximately 4,000 different parts for customers including airlines, maintenance, repair and overhaul shops and original equipment manufacturers. Wencor’s aftermarket distribution business provides a channel to more than 3,700 customers around the world. The company is led by Greg Beason, CEO, and is headquartered near Provo in Springville, UT (www.wencor.com).
“Wencor management and the Odyssey team have built an impressive platform with deep aerospace part design, component repair and distribution expertise,” said Chris Rogers, managing director in Harris Williams & Co.’s ADG Group. “Wencor will continue to take advantage of the many organic and acquisition-based growth opportunities created by the compelling value proposition it provides to its customers as well as benefit from the industry expertise and global reach of its new partner, Warburg Pincus.”
Warburg Pincus has more than $35 billion in assets under management and has raised 13 private equity funds which have invested more than $48 billion in approximately 700 companies in 35 countries. The firm was founded in 1966 and is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Port Louis, Mumbai, San Francisco, Sao Paulo and Shanghai (www.warburgpincus.com).
Odyssey Investment Partners is a middle-market private equity firm with more than $3 billion under management. Odyssey makes control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing; business, financial and healthcare services; aerospace products; and localized and route-based service businesses. The firm has offices in New York and Woodland Hills, CA (www.odysseyinvestment.com).
Harris Williams & Co.’s Aerospace and Defense Group (ADG) offers advice to aerospace, defense and government services clients. For more information on the Aerospace and Defense Group click HERE.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
2014 PEPD • Private Equity’s Leading News Magazine • 6-20-14