Platinum Equity Advisors, a US-based private equity form focussed on leveraged buyout investments of established companies in the US, Europe and Asia is to acquire aircraft landing gear specialist Héroux-Devtek Inc for $1.35bn, according to a report by Canadian Press.
Héroux-Devtek shares closed at $25.32 on the Toronto Stock Exchange on Wednesday after news broke of the deal, which will see Platinum Equity maintaining and investing in Héroux-Devtek’s headquarters and other operations in Quebec, including its manufacturing facilities.
The transaction is subject to customary closing conditions, including regulatory and shareholder approvals, but is expected to be finalised before the end of Héroux-Devtek’s current financial year on 31 March 2025.
