| NEW YORK, April 7
NEW YORK, April 7 Pattonair, a privately held
aircraft replacement parts distributor, is preparing to sell
itself in a deal that could fetch more than $500 million, people
familiar with the matter said on Monday.
Exponent Private Equity, which purchased the Fort Worth,
Texas-based parts supply chain manager from Umeco Plc in 2011
for 140 million pounds, has been interviewing banks to lead a
sale effort, the people said.
Pattonair, founded in 1942, has a global distribution system
that facilitates the warehousing shipment of parts from
Rolls-Royce Holdings Plc, BAE Systems Plc,
Airbus Group NV and Boeing Co to customers
including airlines and governments.
The company has around $50 million in earnings before
interest, tax, depreciation and amortization and could look to
fetch 10 to 12 times that amount, two of the people said, asking
not to be named because the matter is private. Pattonair and
Exponent did not return requests for comment.
Pattonair had net sales of 291 million pounds in 2012 with
more than 900 employees in 10 countries, according to its
website. It has locations around the world including Derby, UK
(Editing by Matthew Lewis)