Warburg Pincus closes buy of Wencor from Odyssey

Warburg Pincus has completed its acquisition of Wencor from Odyssey Investment Partners. No financial terms were disclosed. Harris Williams & Co advised Wencor on the transaction. Based in Springville, Utah, Wencor is a provider and distributor of aftermarket aerospace components.


RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Wencor Group, LLC (Wencor), a portfolio company of Odyssey Investment Partners, LLC (Odyssey), to Warburg Pincus LLC (Warburg Pincus). Wencor, headquartered in Springville, UT, is a leading designer, repair provider and distributor of aftermarket aerospace components. Harris Williams & Co. acted as the exclusive advisor to Wencor.

The transaction closed on June 19, 2014 and was led by Jon Nemo, Chris Rogers, Doug Kinard and Chris Smith from Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group.

“Wencor is a truly unique commercial aerospace business serving the aftermarket maintenance needs of its large and growing customer base,” said Jon Nemo, managing director in Harris Williams & Co.’s ADG Group. “This successful transaction reflects the strong demand for differentiated platforms in commercial aerospace.”

“Wencor management and the Odyssey team have built an impressive platform with deep aerospace part design, component repair and distribution expertise,” commented Chris Rogers, managing director in Harris Williams & Co.’s ADG Group. “Wencor will continue to take advantage of the many organic and acquisition-based growth opportunities created by the compelling value proposition it provides to its customers as well as benefit from the industry expertise and global reach of its new partner, Warburg Pincus.”

Wencor is a market-leading provider of aftermarket components to the commercial, military and general aviation aircraft sectors. Customers include commercial airlines and maintenance, repair and overhaul (MRO) providers. The company’s component design and proprietary repair capabilities allow it to provide lower cost maintenance alternatives to airline and MRO customers for their replacement part and repair needs. Wencor’s aftermarket distribution business provides a channel to more than 3,700 customers around the world.

Odyssey, with offices in New York and Los Angeles, is a leading middle market private equity firm with more than $4 billion under management. Odyssey primarily makes majority controlled investments, typically in established middle market companies, in a variety of industries.

Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than $37 billion in assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds, which have invested more than $48 billion in over 700 companies in more than 35 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo and Shanghai.

Harris Williams & Co.’s ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. The sale of Wencor represents the ninth transaction announced by the ADG Group since its formation in June 2010. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams & Co. website.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business