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MRO NEWS

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

AVIATION - AEROSPACE

EXHIBITION & CONFERENCE

19-20-21 NOVEMBER 2024
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ABU DHABI ABU DHABI, THE CAPITAL - UAE

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