Platinum Equity completed the acquisition of Wesco Aircraft for $1.9bn.

Platinum Equity-backed Pattonair, a provider of supply chain management services for the aerospace and defense industries, completed the acquisition of Wesco Aircraft Holdings, a distributor and provider of comprehensive supply chain management services to the global aerospace industry, for $1.9bn. The cash purchase price represents a premium of approximately 27.5% to the 90-day volume-weighted average share price for the period ended May 24, 2019. “We are excited about the opportunities a combination with Pattonair will provide Wesco. This is the right transaction for our shareholders, customers and employees. This transaction is a strong validation of our customer value proposition, and it will allow us to find new and innovative ways to bring more value to customers, enhance relationships with suppliers and create additional opportunities for employees,” Todd Renehan, Wesco Aircraft Chief Executive Officer.