Divestiture • Aerospace

CVC Capital Partners and CPP Investments Acquire Ontic

On July 30, 2019, private equity firm CVC Capital Partners and pension CPP Investments acquired aerospace company Ontic from Signature Aviation for 1.4B USD

Acquisition Context
  • This is CVC Capital Partners’ 2nd and CPP Investments’ 1st transaction in the Aerospace sector.
  • This is CVC Capital Partners’ 25th and CPP Investments’ 46th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 34th and CPP Investments’ 43rd transaction in the United States.
  • This is CVC Capital Partners’ 5th and CPP Investments’ 8th transaction in California.

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M&A Deal Summary

Date July 30, 2019
Target Ontic
Sector Aerospace
Buyer(s) CVC Capital Partners
CPP Investments
Sellers(s) Signature Aviation
Deal Type Divestiture
Deal Value 1.4B USD

Target Company

Ontic

Chatsworth, California, United States
Ontic is a provider of high-quality, OEM-licensed parts for legacy aerospace platforms. Ontic was founded in 1974 and is based in Chatsworth, California.
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Buyers Overview 2

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


Deal Context for Buyer #
Overall 244 of 330
Sector: Aerospace 2 of 2
Type: Divestiture 29 of 40
State: California 5 of 6
Country: United States 34 of 46
Year: 2019 8 of 13
Size (of disclosed) 25 of 59
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-12 Syntegon

Waiblingen, Germany

Syntegon is a supplier of process and packaging technology that develops and produces complete solutions for the pharmaceuticals, food, and confectionery industries. These solutions are complemented by a comprehensive after-sales service portfolio. A global service and sales network provides customers with local points of contact. Syntegon is based in Waiblingen, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-02 Multiversity

Campania, Italy

Multiversity is the owner of Italy's largest online university Universitá Telematica Pegaso, as well as Mercatorum University. Pegaso is the largest online university in Italy, offering courses to around 80,000 undergraduate and post-graduate students across more than 70 exam venues. Pegaso's innovative online platform offers a range of programs for the under-served further education market, including bachelor and master degrees, post-graduate masters and single courses. Multiversity was founded in 2006 and is based in Campania, Italy.

Buy -
Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


Deal Context for Buyer #
Overall 83 of 176
Sector: Aerospace 1 of 1
Type: Divestiture 11 of 18
State: California 8 of 23
Country: United States 43 of 82
Year: 2019 16 of 21
Size (of disclosed) 46 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-30 MetaMetrics

Durham, North Carolina, United States

MetaMetrics is an education technology organization that offers the only scientifically valid, universal scales for measuring reading and listening (Lexile) as well as math (Quantile). The Lexile and Quantile Frameworks measure student ability and the complexity of the content they encounter. Lexile and Quantile measures and related technologies link assessment to instruction and provide next steps for students of all ages and abilities. MetaMetrics was formed in 1984 and is based in Durham, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Refinitiv

New York, New York, United States

Refinitiv is a large provider of financial markets data and infrastructure, serving over 40,000 institutions in over 150 countries. It provides data and insights, trading platforms, market data infrastructure and open technology platforms that support and connect the global financial markets community. Refinitiv was formerly known as Thomson Reuters Financial & Risk and is based in New York.

Sell $27.0B

Seller Profile 1

SELLER

Signature Aviation

Orlando, Florida, United States

Category Company
Founded 1879
Sector Business Services
Employees6,469
Revenue 2.3B GBP (2019)
DESCRIPTION

Signature Aviation is a provider of global aviation support services focused on flight support services and the aviation aftermarket, primarily in the business and general aviation sector. Signature Aviation was founded in 1879 and is based in Orlando, Florida.


Deal Context for Seller #
Overall 2 of 2
Sector: Aerospace 1 of 1
Type: Divestiture 2 of 2
State: California 1 of 1
Country: United States 2 of 2
Year: 2019 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-16 ASIG Holdings

Orlando, Florida, United States

ASIG Holdings Corp. is one of the largest independent providers of commercial airline services in the world. Headquartered in Orlando, Florida, it currently has operations in 88 locations across seven countries and is one of the market leaders for into plane ("ITP") fuelling and fuel farm management ("FFM") services in North America and the UK, where it also has ground handling operations in high-traffic airports as well as small and medium sized airports.

Sell $202M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-03 Fort Lauderdale Executive Jet Center

Fort Lauderdale, Florida, United States

Fort Lauderdale Executive Jet Center offers personalized hospitality, comprehensive aircraft support, and convenient access to the significant business and leisure destinations in the area. Fort Lauderdale Executive Jet Center is based in Fort Lauderdale, Florida.

Buy -