M&A Deal Summary

Incora Acquires Wesco Aircraft Holdings

On August 9, 2019, Incora acquired aerospace company Wesco Aircraft Holdings from AE Industrial Partners and Aerostar Capital for 1.9B USD

Acquisition Highlights
  • This is Incora’s 1st transaction in the Aerospace sector.
  • This is Incora’s largest (disclosed) transaction.
  • This is Incora’s 1st transaction in the United States.
  • This is Incora’s 1st transaction in California.

M&A Deal Summary
Date 2019-08-09
Target Wesco Aircraft Holdings
Sector Aerospace
Buyer(s) Incora
Sellers(s) AE Industrial Partners
Aerostar Capital
Deal Type Merger
Deal Value 1.9B USD
Advisor(s) Morgan Stanley
J.P. Morgan Securities (Financial)
Latham & Watkins (Legal)

Target

Wesco Aircraft Holdings

Valencia, California, United States
Wesco Aircraft Holdings, Inc. is a distributor and provider of comprehensive supply chain management solutions to the global aerospace industry and other industrial market segments. Wesco Aircraft services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery, chemical management services, third-party logistics or fourth-party logistics and point-of-use inventory management. Wesco Aircraft Holdings, Inc. was founded in 1953 and is headquartered in Valencia, California.

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Buyer(S) 1

Buyer

Incora

Derby, United Kingdom
Category Company
Founded 1970
Sector Aerospace
DESCRIPTION

Incora is an independent distributor and global provider of supply chain solutions. The Company was forged by the joining of two industry leaders in supply chain solutions, Wesco Aircraft and Pattonair. Services include original equipment and aftermarket part demand forecasting, distribution, kitting, line feed, supplier management, warehouse management, inbound and reverse logistics, and consulting.

DEAL STATS #
Overall 1 of 1
Sector (Aerospace) 1 of 1
Type (Merger) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

AE Industrial Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 6.2B USD
Size Mega
Type Sector Focused
DESCRIPTION
AE Industrial Partners' headquarters in Boca Raton, Florida.
AE Industrial Partners' headquarters in Boca Raton, Florida.

AE Industrial Partners is a private equity firm focused on acquiring and investing in aerospace and industrial companies. The Firm specifically looks for established, profitable companies in the aircraft propulsion (turbojet, turbofan and turboprop aircraft engines) and power generation (industrial turbines) industries, as well as the manufacture of OEM and replacement parts, and aftermarket maintenance, repair and overhaul. AE Industrial Partners was formed in 1998 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 6 of 19
Sector (Aerospace) 4 of 6
Type (Merger) 1 of 3
State (California) 1 of 1
Country (United States) 6 of 19
Year (2019) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 Columbia Helicopters

Aurora, Oregon, United States

Columbia Helicopters is a provider of heavy-lift rotorcraft, manufacturing, and MRO services to a variety of end markets including military support, firefighting, and on-shore oil & gas. Columbia Helicopters supports commercial and government operators with a comprehensive range of responsive life-cycle support and MRO services, from tip to tail, in the hangar or in the field maintenance. Columbia Helicopters was founded in 1957 and is based in Aurora, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-03 Triman

Morristown, New Jersey, United States

Triman is a provider of distribution, supply chain and repair management solutions to the military aftermarket. Triman represents a growing list of over 40 OEMs and provides a full suite of value-added services including inspection and testing, packaging, labeling, marking, processing, export management, contract administration and repair management services. Triman was founded 1995 and is based in Morristown, New Jersey.

Buy -
SELLER

Aerostar Capital

Wilson, Wyoming, United States
Category Private Equity Firm
Founded 1997
Size Small
Type Sector Focused
DESCRIPTION

Aerostar Capital is a specialist private investment firm focused on companies that sell products and services to commercial aviation, defense, government and satellite entities. Prospective businesses typically have revenues greater than $100 million, as well as 'good cash flow, solid relations with a diverse set of global customers, a clearly focused and competitively sustainable growth strategy, and a strong and committed management team'. Non-core divestitures are of particular interest. The Firm's investment horizon is generally 3 to 7 years. Aerostar Capital was formed in 1997 and is based in Wilson, Wyoming.

DEAL STATS #
Overall 3 of 3
Sector (Aerospace) 2 of 2
Type (Merger) 1 of 1
State (California) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 Firth Rixson

Sheffield, United Kingdom

Firth Rixson Ltd. is a supplier of highly engineered rings, industrial forgings and specialized metal products primarily to aerospace engine manufacturers, headquartered in East Hartford, Connecticut and Sheffield, England.

Sell $2.9B
Mergr

Product

Company

Legal