Onex Partners Opportunities Fund to acquire Farsound, strengthening its position in the aerospace MRO market with strategic investment.
Onex Corporation recently revealed that the Onex Partners Opportunities Fund will acquire Farsound, a global leader in supply chain solutions for the aerospace engine maintenance, repair, and overhaul (MRO) market. This investment is made in collaboration with Farsound’s management team, headed by CEO Chris Knott. However, the financial terms of the agreement were not disclosed.
Chris Knott, Chief Executive Officer of Farsound, said, “We are excited to partner with Onex for Farsound’s next phase of growth. Onex shares our vision for growth of the business, and we have been impressed by both Onex’ experience and track record of helping businesses realize their growth ambitions. We look forward to working together and amplifying Farsound’s growth opportunity through our partnership.”
Based in Brentwood, England, Farsound specializes in the procurement, supply, and inventory management of high-volume consumable hardware components for aerospace engine overhauls. The company serves as a strategic partner to leading engine MRO providers, supporting key commercial engine platforms. Additionally, Farsound improves operational efficiency and engine turnaround times for its customers through its superior supply chain management and value-added services. Operating from four facilities in the UK, U.S., Canada, and Spain, Farsound maintains a global presence in the aerospace industry.
Faiz Hemani, a Managing Director at Onex Partners, said, “We are delighted to invest in Farsound and partner with Chris Knott and the management team to deliver on the next phase of its growth. We look forward to applying our aviation and aerospace networks for the company’s benefit across its customer landscape.”
This investment reinforces Onex Partners’s successful history in the aviation and aerospace sectors and its focus on businesses with unique value propositions in growing markets. The transaction is anticipated to close later this year, pending customary closing conditions and regulatory approvals. Onex was advised by Barclays and Solomon Partners as financial advisors, while Latham & Watkins LLP served as legal counsel.
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Q. – What did Onex Corporation recently announce?
A. – Onex announced the acquisition of Farsound by the Onex Partners Opportunities Fund.
Q. – What market does Farsound operate in?
A. – The aerospace engine maintenance, repair, and overhaul (MRO) market.
