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US-Based Platinum Equity to Take Héroux-Devtek Private in C$1.35 Billion Deal
Platinum Equity Advisors, a US private equity firm, has agreed to acquire Héroux-Devtek, a Canadian aerospace components manufacturer. The deal is valued at C$1.35 billion (approximately $990 million) and will result in Héroux-Devtek becoming a privately held company.
Deal to Close by March 2025 Pending Approvals
This agreement follows a strategic review process and is expected to close before March 31, 2025, which marks the end of Héroux-Devtek’s fiscal year. The closing is subject to approval from both shareholders and regulatory authorities.
Specialization in Titanium Landing Gear and Strong Financials
Héroux-Devtek is known for its expertise in titanium landing gear systems for commercial and military aircraft. It also provides maintenance, repair, and overhaul (MRO) services. The company operates 14 global facilities focused on manufacturing and aftermarket support.
Recent financials reveal strong growth, with profits more than tripling to C$21 million and revenue increasing by 18% year-over-year to C$184 million in the latest quarter.
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