Héroux-Devtek Acquired by Platinum Equity: A New Chapter in Aerospace
Deal News | Feb 12, 2025 | Platinum Equity
Platinum Equity has announced the completion of its acquisition of Héroux-Devtek Inc., a leading aerospace manufacturer and the world's third-largest landing gear producer. The move underscores Platinum Equity's long-standing investment interests in Canada. The firm expressed a strong commitment to Héroux-Devtek's growth, focusing on maintaining the company's headquarters in Longueuil, investing in its R&D, and leveraging partnerships with local investors such as Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ. Managing Director Delara Zarrabi noted the potential for organic growth and further acquisitions under Platinum Equity's management, emphasizing the firm's comprehensive strategies to bolster Héroux-Devtek's market position. Platinum's broader investment portfolio also includes Canadian companies like Husky Technologies, and it remains open to exploring further opportunities in the region. Legal and financial advisory for the acquisition was provided by Stikeman Elliott LLP, Latham & Watkins LLP, and BMO Capital Markets.
Sectors
- Aerospace and Defense
- Private Equity & Venture Capital
Geography
- Canada – The acquisition involves Canadian-based company Héroux-Devtek and local investors such as CDPQ and FTQ, with Platinum Equity having a strong presence in the Canadian market.
- United States – Platinum Equity is a U.S.-based investment firm, headquartered in Los Angeles, indicating cross-border M&A activities.
Industry
- Aerospace and Defense – Héroux-Devtek operates within the aerospace and defense industry, being a major manufacturer of landing gears and other aerospace products.
- Private Equity & Venture Capital – Platinum Equity is involved in the financing aspect of the transaction, indicative of the M&A activities typical within this industry.
Financials
- Not disclosed – The financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Héroux-Devtek Inc. | Target | Company | A leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer. |
| Platinum Equity | Buyer | Company | A global investment firm specializing in mergers, acquisitions, and operations, headquartered in Los Angeles. |
| Caisse de dépôt et placement du Québec (CDPQ) | Investor | Company | Local investor in the debt financing for the acquisition. |
| Fonds de solidarité FTQ | Investor | Company | Local investor in the debt financing for the acquisition. |
| Stikeman Elliott LLP | Legal Advisor | Company | Served as a legal advisor to Platinum Equity on the acquisition. |
| Latham & Watkins LLP | Legal Advisor | Company | Served as a legal advisor to Platinum Equity on the acquisition. |
| BMO Capital Markets | Financial Advisor and Lead Arranger | Company | Served as financial advisor and lead arranger for the financing on the acquisition. |