Platinum Equity has signed a definitive agreement to acquire Unical Aviation Inc. and certain of the company’s affiliates, a provider of aircraft parts and components to the global commercial aerospace market, from affiliates of the company’s founders.
The acquisition includes Unical Aviation, Unical MRO, Unical 145 and Unical Aero. Unical Defense Inc., an affiliate that serves government defense contracts, is not included in the sale to Platinum Equity.
“Unical is one of the largest and most trusted suppliers of aftermarket parts and services to aviation customers around the world,” said Platinum Equity partner Jacob Kotzubei. “As post-pandemic air passenger traffic rebounds and the air cargo market continues to grow, the need for available inventories of quality parts is expected to increase. The aviation industry also anticipates significant levels of fleet retirement, which will create ample levels of supply to meet that growth in demand. As a critical link in the aviation supply chain with more than 30 years of experience, we believe Unical’s value proposition will be more important than ever.”
“We are excited to partner with the Unical team to build on the company’s impressive legacy,” said Platinum Equity managing director Dan Krasner. “With Platinum’s financial capacity and operational resources, we intend to accelerate Unical’s growth and significantly expand its position within the aerospace aftermarket. We will invest in the people, processes, systems and inventory required to help the company move forward stronger than ever as the commercial airline market recovers.”
Lazard is serving as financial advisor, Morrison & Foerster as legal advisor, and Alvarez & Marsal as restructuring advisor to Unical. Sheppard Mullin is serving as legal advisor to the seller. Morgan Lewis is serving as legal advisor to Platinum Equity on the transaction.