(Toronto) Onex announced that it has signed an agreement to purchase Farsound Aviation, a British company specializing in the supply of aircraft parts for engine maintenance and repair.
Financial terms of the deal, which was struck by Toronto-based fund Onex Partners Opportunities, which partnered with Farsound’s management team on the transaction, were not disclosed.
The fund is buying the company from private equity firm AGIC Capital, which acquired a majority stake in Farsound in July 2019.
Farsound operates from four facilities in the UK, USA, Canada and Spain.
Farsound CEO Chris Knott said the company was excited to partner with Onex for its next phase of growth.
The deal is expected to close later this year, subject to customary closing conditions and regulatory approvals.