| NEW YORK
NEW YORK May 20 Private equity firm Warburg
Pincus LLC is close to a deal to acquire Wencor Group LLC, a
manufacturer of commercial aircraft parts, for between $800
million and $900 million, people familiar with the matter said
Warburg Pincus is working to finalize a purchase agreement
this week with Wencor's current private equity owner, Odyssey
Investment Partners LLC, after prevailing over private equity
rivals in the auction for the company, the people said.
The sources asked not to be identified because the
negotiations are private. Warburg Pincus and Odyssey declined to
comment, while a Wencor spokeswoman did not respond to a request
Based in Springville, Utah, Wencor provides aircraft parts
to repair stations, operators of general aviation aircraft and
major airlines, according to its website.
Odyssey, which acquired Wencor in 2010 for an undisclosed
amount, tapped investment bank Harris Williams & Co to help find
a buyer, Reuters reported in December.
Wencor is the latest portfolio company that Odyssey is
looking to sell. In November, the buyout firm struck a deal to
sell another one of its portfolio companies, BarrierSafe
Solutions International, to Ansell Ltd.
Odyssey also agreed to sell medical cost containment
services company One Call Care Management Inc to another buyout
firm, Apax Partners LLP, for more than $2 billion in October.
The same month, First Reserve agreed to buy TNT Crane & Rigging
Inc, one of the largest U.S. crane service providers, from
(Additional reporting by Mike Stone in New York; Editing by