Odyssey Investment Partners has acquired Wencor Group LLC, a Springville, Utah-based provider of PMA parts to the commercial aircraft sector. No financial terms were disclosed for the deal, which includes a co-investment from Wencor founder Brent Wood.
Odyssey Investment Partners, LLC today announced that it has acquired Wencor Group, LLC (“Wencor”), a leading distributor of aftermarket parts and the world’s second-largest independent provider of Parts Manufacturer Approval (“PMA”) parts to the commercial aircraft sector. Wencor’s founder, Brent Wood, is investing in the transaction alongside Odyssey. Financial terms of the transaction were not disclosed.
Headquartered in Springville, Utah, Wencor’s PMA catalogue includes over 3,000 different parts for customers including airlines, maintenance, repair and overhaul shops (“MROs”) and original equipment manufacturers (“OEMs”). Wencor’s distribution business provides a natural channel for PMA parts and represents a significant competitive advantage for the company.
Bill Hopkins, a Managing Principal and Co-President of Odyssey Investment Partners, said, “Odyssey has a strong track record of investing in market-leading aerospace companies. Wencor is a great success story that is well positioned to pursue a wide range of growth opportunities in the future. We look forward to building on Brent Wood’s vision and to working closely with the Wencor management team to enhance the company’s value.”
Mr. Wood added, “I am very proud of what we’ve accomplished at Wencor over the years and believe that we have great potential in our end-markets. Odyssey is an ideal partner for us as we enter this next stage of our development given its extensive experience and success in the aerospace business. We are excited about our new partnership and the opportunities it will create for our customers and employees.”
Odyssey’s experience investing in aerospace businesses over the past fifteen years includes investments in Aviation Technologies, Inc., a leading supplier of electrical and electro-mechanical aircraft components; TransDigm, Inc., a leading supplier of aircraft components; TriStar Aerospace, one of the largest distributors of aerospace fasteners; and Tri-Star Electronics International, Inc., a leading interconnect component manufacturer. Under Odyssey’s ownership, these companies completed a total of nine add-on acquisitions.
Imperial Capital advised Odyssey on this transaction.
About Odyssey Investment Partners
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading middle-market private equity firm with more than $2 billion under management. Odyssey Investment Partners, LLC primarily makes control investments typically in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, LLC, please visit www.odysseyinvestment.com. The firm can be reached in New York at 280 Park Avenue, New York, NY 10017 or (212) 351-7900; and in California at 21650 Oxnard Street, Woodland Hills, CA 91367 or (818) 737-1111.
About Wencor Group
Wencor is a worldwide industry leader in the manufacture and delivery of commercial aircraft parts. For over 50 years Wencor has been providing proven parts and reliable service to customers around the globe. From OEM to PMA parts Wencor is committed to delivering superior value while reducing aircraft maintenance costs. To learn more about Wencor, visit www.wencor.com.