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Springville – Warburg Pincus, a New York-based private equity firm, has entered into a definitive agreement whereby one of its affiliates will acquire Springville-based Wencor Group, LLC from Odyssey Investment Partners, LLC. Terms of the transaction were not disclosed.
Headquartered in Springville, Utah, Wencor is a provider of aftermarket components to the commercial, military and general aviation aircraft sectors Customers include commercial airlines and maintenance, repair and overhaul providers.
"We are excited to have Warburg Pincus as our partner for the next chapter in the company's growth, given their deep aerospace investing experience and focus on supporting growing businesses," said Greg Beason, CEO of Wencor Group.
Dan Zamlong, managing director at Warburg Pincus said, "We are very pleased to partner with Greg and the Wencor management team and believe there is significant opportunity to build on Wencor's success by developing new product and repair offerings."
The transaction, which is expected to close in the second quarter of 2014, is subject to customary regulatory approvals.