LONDON--(BUSINESS WIRE)--European-Asian Private Equity investment firm AGIC Capital (“AGIC”) today announced the sale of Farsound Aviation Limited (“Farsound”) to global investment firm Onex for an undisclosed amount.
Farsound is a leading global supply chain solutions provider for the aerospace engine MRO market, focused on the procurement, supply, and inventory management of high-volume consumable hardware components. Farsound serves a global customer base from facilities and offices in the UK, Canada, Spain, China, Singapore, and Japan, with a significant investment being made into a newly established facility in the US for the future. The company acts as a strategic partner to leading engine MRO providers, supporting key commercial engine platforms.
Chris Knott, CEO of Farsound, said: “The development of our company over the past years has been notable. AGIC has been an excellent partner, supporting our expansion and diversification. We look forward to collaborating with our new equity partner in Onex.”
Ben Mitchell, Managing Director of AGIC, said: “Since 2019, we have worked closely with Farsound’s management team to expand and diversify the business’ engine coverage, customer base, and international footprint, particularly in the US. Against the backdrop of the Covid pandemic and subsequent recovery in air travel, our collaboration has supported Farsound in providing a significantly enhanced service to its customers and a more global and expanded business.”
William Blair acted as exclusive financial advisor to AGIC, and K&L Gates served as Legal Advisor.
About AGIC Capital
Founded in 2015, AGIC is a European-Asian fund focused on investments in advanced industrial and healthcare technology companies and has more than US$ 2.2 billion of assets under management. It targets buyout and growth-stage investment in small- and medium-sized companies and employs customized, hands-on approaches to guiding and supporting portfolio companies in developing and executing market penetration plans. AGIC has offices in Munich, London, Paris, Hong Kong, Shanghai and Beijing. For more information, please go to www.agic-group.com
