Platinum Equity Advisors to Acquire Héroux-Devtek for C$1.35 Billion
In a notable development in the aerospace industry, US investment firm Platinum Equity Advisors has agreed to acquire Canadian aerospace components manufacturer Héroux-Devtek in a deal valued at C$1.35 billion ($990 million). This acquisition will transition Héroux-Devtek to a privately held company.
Deal Timeline and Approvals
The deal, which follows a thorough “strategic review process,” is expected to close before the end of Héroux-Devtek’s fiscal year on March 31, 2025, pending shareholder and regulatory approvals, the company announced on Thursday.
Héroux-Devtek’s Specialization and Financial Growth
Héroux-Devtek specializes in producing titanium-infused landing gear systems for both commercial and defense aircraft and offers extensive maintenance, repair, and overhaul services. The company operates 14 facilities dedicated to manufacturing and aftermarket services.
The company’s financial performance has been strong, with profits more than tripling to C$21 million in the latest quarter compared to the same period last year. Revenue also increased by 18%, reaching C$184 million during the same timeframe.
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