Onex Corporation announced that its Onex Partners Opportunities Fund has reached an agreement to acquire Farsound, a company specialising in supply chain solutions for the aerospace engine maintenance, repair, and overhaul (MRO) sector. The investment will be made in collaboration with Farsound’s management team, which is headed by Chief Executive Officer Chris Knott. The financial details of the transaction have not been disclosed.
Based in Brentwood, England, Farsound focuses on sourcing, supplying, and managing the inventory of consumable hardware components used in aerospace engine overhauls. The company partners with leading engine MRO providers, enhancing efficiency and reducing turnaround times for its clients. Farsound operates from facilities located in the UK, the United States, Canada, and Spain.
Chris Knott, CEO of Farsound, stated, “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.”
Faiz Hemani, 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 acquisition is consistent with Onex Partners’ established history of investing in the aviation and aerospace industries and supporting businesses with unique value propositions in growing markets.
The transaction is anticipated to be finalised later this year, subject to standard regulatory approvals and closing conditions.
Boom’s XB-1 supersonic demonstrator aircraft successfully executed its second flight at the Mojave Air & Space Port in Mojave, California,…
ASELSAN, a defence company from Turkiye, will participate in the Egypt International Airshow 2024, scheduled from 3rd to 5th September…
The 5th Asian Defense and Security Exhibition (ADAS) is set to take place from 25 to 27 September 2024 at…
FlyOnE Sustainable Aviation has announced plans to establish a large-scale international Electric Pilot Training facility in Victoria, Australia. The facility…
Archer Aviation has closed on US$220M of the US$230M of additional capital raised since the end of Q2. The US$10M…
Vaisala has been awarded a EUR 25 million contract to enhance safety and weather resilience at 14 airports in Indonesia.…
ASQS, a provider of safety and quality management software for the aviation industry, has announced the appointment of Florian Lis-Srajer…
ExecuJet Haite Aviation Services China and Capital Airport Holding Business Aviation Management (CBM) have officially opened new facilities at Beijing…
CargoAi has appointed Olivier Veyrac as Senior Vice President for CargoWALLET, the company's digital payment platform launched in February 2023.…
Orbit Communication Systems Ltd., a provider of satellite communication systems for maritime and airborne use, has announced a USD 6…
The Republic of Singapore Navy (RSN) has taken delivery of its second Type 218SG submarine, the RSS Invincible, at Changi…
Mitsubishi Heavy Industries, Ltd. (MHI) and Japan Airlines Co., Ltd. (JAL) have agreed to jointly explore potential collaboration in the…
Abu Dhabi Airports and Groupe ADP have extended their partnership to develop Advanced Air Mobility (AAM) infrastructure in the Emirate.…
StandardAero has acquired Aero Turbine, a provider of MRO services and consultative repair solutions for military engines and accessories from…
Joby Aviation recently demonstrated autonomous logistics aircraft operations in an evolving mission environment, in partnership with the U.S. Air Force…
NATO has awarded Exail Robotics Belgium a EUR 60 million contract for the supply of underwater mine disposal vehicles. The…
Embraer has announced the sale of up to six A-29 Super Tucano aircraft to the Uruguayan Air Force (FAU). This…
WestJet Cargo has announced the expansion of its pet transportation services to include London Gatwick (LGW), London Heathrow (LHR), and…
The Royal Thai Air Force (RTAF) has decided to purchase JAS 39E/F Gripen fighter jets from Sweden, opting for these…
In a major step to enhance defence collaboration between Indonesia and Turkiye, Indonesian Defence Minister Prabowo Subianto and Haluk Görgün,…
Air Chateau, a Dubai-based helicopter and vertiport operator, is collaborating with Regional Airports Company (RACL) and Wings Capital Management of…
Turkish Aerospace Industries (TAI) has officially inaugurated its new office in Bandung, West Java, on Sunday, 25th August. The company…
The Royal Malaysian Navy (RMN) has confirmed that the KD Pendekar (3513), a Handalan-class fast attack craft, sank at 15:54…
Worldwide Flight Services (WFS), a member of the SATS Group, has become the first cargo handler at Amsterdam Airport Schiphol…
More than 1,200 companies, including 200 firms from about 40 countries, will showcase their capabilities at the upcoming SAHA EXPO…
Vietnam has successfully concluded the Site Acceptance Test (SAT) for its new L-39NG trainer aircraft, marking the final step in…
The Royal Brunei Air Force (RBAirF) held a foundation-laying ceremony on Tuesday, 20th August, for a new building dedicated to…
L3Harris plans to reduce greenhouse gas emissions by 60%, water use by 20%, and solid waste by 10%. In addition,…
Boeing has become an early investor in Wagner Sustainable Fuels to support the development of its sustainable aviation fuels (SAF)…
Terma and Kongsberg Aviation Maintenance Services (KAMS) have formalised a Teaming Agreement to collaborate on military Aviation Maintenance Services (AMS)…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.