American aircraft parts manufacturer Wencor Group LLC is reportedly exploring a sale that could fetch around USD600 million.
According to Reuters, private equity firm Odyssey Investment Partners LLC acquired Wencor for an undisclosed sum in 2010. The buyout firm has tapped investment bank Harris Williams to help find a buyer for the asset.
Wencor could attract interest from bigger industry rivals such as Heico Corp as well as private equity firms, sources told Reuters on Thursday.
Wencor provides aircraft parts to repair stations, operators of general aviation aircraft and major airlines. The company is based in Springville, Utah, the report said.
The aircraft parts company has annual earnings before tax, interest, depreciation and amortization (EBITDA) of USD50 million. Wencor could trade for between 11 to 13 times that amount, Reuters said.
Wencor is the latest portfolio company that Odyssey is looking to sell. In November, the buyout firm struck a deal to sell another one of its portfolio companies. It sold personal protective equipment maker BarrierSafe Solutions International to Australia's Ansell Limited, the report said.
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