OEM parts provider Ontic has finalised its partnership with CVC Fund VII, in a deal valued at over $1.3 billion.
Ontic, headquartered in the UK, provides a value-added solution to both OEMs and their clients, by taking on responsibility for the supply and repair of complex parts for mature platforms.
The company supports more than 39,000 in-service aircraft through its portfolio of over 165 licenses for more than 7,000 parts. It has over 1,200 valued customers worldwide.
Gareth Hall, Ontic CEO, said: “We are thankful for all of the support we received from BBA Aviation and we are looking forward to our continued success and future growth with CVC.
“This is an exciting time for our business, to move forward as an independent organisation, with a strong new financial partner as owner and the opportunity to do so much more with our OEM partners.”
