CHICAGO, September 12, 2019 – Mesirow Financial advised Meggitt PLC (“Meggitt”) in connection with a new exclusive license agreement with Ontic, a BBA Aviation plc (“BBA”) company, for signal conditioners, military chip detectors, cockpit indicators and connector harnesses.
The aerospace applications for these Ontic products include a range of commercial, B&GA, and military platforms. This follows the license agreement Ontic signed with Meggitt in December 2018 for engine pressure transmitters, fuel flow transmitters and fluid monitoring. Ontic is a leading supplier of ‘Extended Life Solutions’ for Original Equipment Manufacturer (“OEM”) legacy products to the aviation industry.
Fergus Munro, head of M&A for Meggitt, commented on the transaction, “We are pleased to complete this licensing agreement with Ontic and to have the opportunity to work with Mesirow Financial.”
Adam Oakley, managing director of Mesirow Financial's Investment Banking group, said, “We are honored to continue our partnership with Meggitt to support their strategic plan and were happy to achieve another successful outcome.”
The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking group and highlights the firm’s expertise within the Aerospace & Defense sector. With extensive sector-specific expertise and deep long-standing relationships, Mesirow Financial’s team has a proven track record of completing highly tailored and successful transactions on behalf of their clients.
About Meggitt PLC
Headquartered in the United Kingdom, Meggitt PLC is an international group operating in North America, Europe and Asia. Known for its specialized extreme environment engineering, Meggitt is a world leader in aerospace, defense and energy. Meggitt employs nearly 11,000 people at 40 manufacturing facilities and regional offices worldwide. To learn more, visit meggitt.com.
Ontic is a wholly owned subsidiary of BBA Aviation plc, with over 45 years of aerospace product manufacturing and aftermarket support experience. Ontic provides FAA, CAAS, CAAC, TCCA, DCA, EASA Part 21 and 145 OEM support, including new and serviceable spares and repairs for over 4,500 maturing aircraft parts. For more information, please visit ontic.com. On July 30, 2019, CVC Capital Partners entered into an agreement to acquire Ontic from BBA. The transaction is expected to close in 4Q 2019.
About Mesirow Financial
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions designed to deliver measurable results. To learn more, please visit mesirow.com.