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PE firm buys HK aircraft parts firm for sum in US$300 million range

PRIVATE equity firm Permira said it has agreed to buy Hong Kong-based aircraft parts distributor Topcast Aviation Supplies from its founders, as it takes a bullish view on the growth of China's aviation sector reports Hong Kong's South China Morning Post

PE firm buys HK aircraft parts firm for sum in US$300 million range

PRIVATE equity firm Permira said it has agreed to buy Hong Kong-based aircraft parts distributor Topcast Aviation Supplies from its founders, as it takes a bullish view on the growth of China's aviation sector reports Hong Kong's South China Morning Post

08 September 2019 - 19:00

PRIVATE equity firm Permira said it has agreed to buy Hong Kong-based aircraft parts distributor Topcast Aviation Supplies from its founders, as it takes a bullish view on the growth of China's aviation sector reports Hong Kong's South China Morning Post.

Permira's Asia chief Alex Emery said the deal was partly driven by the succession planning of Topcast's founders who have led the business for three decades.



Thomas Hung, managing director and one of the founders, decided to sell a majority stake in the company to Permira, which will seek out external talent to steer the business forward.



Mr Emery refused to comment on the financial details but a separate source told the Post that Permira has bought a 90 per cent stake in Topcast. With an a enterprise value of US$300 million, that would value the deal at US$270 million.


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