Platinum Equity has agreed to buy aerospace logistics company Pattonair from Exponent Private Equity. The deal comes on the heels of Platinum Equity raising the firm's fourth global buyout fund.
Pattonair, based in Derby, Enlgland, provides logistics and distribution services for aerospace and defense companies. The target helps manufacturers with warehouse management, packaging parts along with delivery and distribution.
Founded in 1995 by Detroit Pistons owner Tom Gores, Platinum Equity is a Los Angeles-based private equity firm with more than $6 billion in capital under management. The firm has completed more than 185 acquisitions since inception.
Recent deals in the transportation and logistics industry include: CI Capital’s acquisition of Simplified Logistics; Ridgemont Equity Partners’ purchase of Worldwide Express; and TPG Capital's investment in Transplace.
Rothschild & Co. and Latham and Watkins are advising Platinum Equity. Ropes & Gray is representing Exponent.