Pattonair completes £1.5bn merger deal
Derby-based supply chain firm Pattonair has completed a £1.5bn deal to merge with US-based Wesco Aircraft Holdings.
The deal means Pattonair, which provides distribution and supply chain management services to the aerospace and defence sectors and employs 600 people in Derby, will significantly expand its US presence as well as reinforce its operations in Europe, the Middle East, Africa and Asia Pacific.
The combined company, which will be headquartered in Valencia following closing, becomes a $2.4bn business with a global footprint in 17 countries and more than 4,000 employees. The combined company will serve more than 8,400 customers, including many of the world’s leading aerospace and defense original equipment manufacturers and their subcontractors.
Todd Renehan, Wesco Aircraft’s chief executive since 2017, has been named CEO of the combined company, and Wayne Hollinshead, Pattonair’s chief executive since 2011, has been named president.
Renehan said: “I’m excited about the significant opportunities generated by bringing together Wesco and Pattonair. We have formed a highly diversified provider of end-to-end customizable supply chain solutions with greater scale, product range and purchasing ability. We plan to leverage these strengths, together with our robust value proposition and consistent delivery of service excellence, to be the go-to partner for bringing new products and technologies to the market.”
Hollinshead said: “I’m thrilled with the benefits this combination brings customers and our employees. We expect that our scale and reach, coupled with sophisticated inventory and supply chain management capabilities, will better position us to benefit from industry growth and drive greater operational efficiency. At the same time, we believe our broad footprint will enable us to align our service model with the needs of global customers, while enhancing their productivity through exceptional delivery performance.”
Pattonair is part of an international portfolio of companies owned by Los Angeles-based Platinum Equity.
