Aircraft
BBA To Sell Ontic To Private Equity Firm
CVC Capital Partners to pay $1.37 billion for the BBA unit that manufactures OEM-licensed parts for legacy aircraft.

BBA Aviation plans to sell its Ontic unit for $1.37 billion to CVC Capital Partners’ CVC Fund VII, the London-based global aviation support and aftermarket services provider announced today. The sale of Ontic, a manufacturer of OEM-licensed parts for legacy aircraft, will allow BBA to enhance and invest in its Signature Flight Support business, the company added. “While maintaining a strong balance sheet, we also expect to return between $750 million and $850 million to shareholders and will evaluate how best to structure this return after consultation with our shareholders,” said BBA CEO Mark Johnstone.