Ontic, a provider of OEM-licensed parts for mature aerospace platforms, has successfully finalised its partnership with CVC Fund VII in a deal valued at over $1.3 billion following receipt of shareholder and regulatory approvals. The company was formerly part of aviation support and aftermarket service provider BBA Aviation, owner of Signature Flight Support.

Headquartered in Cheltenham, UK, Ontic supports more than 39,000 in-service aircraft through its portfolio of over 165 licences for more than 7,000 parts, and has over 1,200 customers worldwide.

CEO Gareth Hall says: “We are thankful for all of the support we received from BBA Aviation and we are looking forward to our continued success and future growth with CVC. This is an exciting time for our business, to move forward as an independent organisation, with a strong new financial partner as owner, and the opportunity to do so much more with our OEM partners.”

CVC Capital Partners senior managing director James Mahoney comments: “Ontic has experienced significant growth over a sustained period as a result of the distinct and genuinely value-added solution the company provides to both OEMs and end users. We are excited about our new partnership with Gareth and his team and the opportunity to build on their success.”

Ontic's global capabilities are delivered from approved manufacturing and repair facilities in Chatsworth, California; Creedmoor, North Carolina; Plainview, New York; Cheltenham in the UK and in Singapore.