Platinum Equity has completed the acquisition of Unical Aviation, which provides aircraft parts and components to the global commercial aerospace market, from affiliates of the company's founders.
The acquisition includes Unical Aviation, Unical MRO, Unical 145 and Unical Aero. Unical Defense, an affiliate that serves government defense contracts, is not included in the sale to Platinum Equity.
Platinum Equity, a Los Angeles-based global investment firm with more than $25 billion of assets under management, currently owns lncora, a global aerospace and defense supply chain service provider based in Fort Worth, Texas. Unical will operate as a standalone company in Platinum Equity's portfolio.
Platinum Equity operations executive Dori Konig will serve as interim CEO during the transition.
"We are excited to work with the talented Unical team to build on the company's impressive legacy as a trusted partner to aviation customers around the world," said Konig. "We will invest to accelerate the company's growth and further enhance its position in the global aerospace aftermarket."
Lazard served as financial advisor, Morrison & Foerster as legal advisor, and Alvarez & Marsal as restructuring advisor to Unical. Sheppard Mullin served as legal advisor to the seller. Morgan Lewis served as legal advisor to Platinum Equity on the transaction.