Platinum Equity announced today it has completed the acquisition of Unical Aviation Inc. and certain of the company's affiliates ("Unical"), a leading provider of aircraft parts and components to the global commercial aerospace market, from affiliates of the company's founders.

The acquisition includes Unical Aviation, Unical MRO, Unical 145 and Unical Aero. Unical Defense Inc., an affiliate that serves government defense contracts, is not included in the sale to Platinum Equity.

Platinum Equity, a Los Angeles-based global investment firm with more than $25 billion of assets under management, has substantial experience investing in supply chain and logistics businesses, including in the aerospace sector. The firm currently owns lncora, a global aerospace and defense supply chain service provider based in Fort Worth, Texas. Unical will operate as a standalone company in Platinum Equity's portfolio.

Platinum Equity operations executive Dori Konig will serve as interim CEO during the transition.

"We are excited to work with the talented Unical team to build on the company's impressive legacy as a trusted partner to aviation customers around the world," said Mr. Konig. "We will invest to accelerate the company's growth and further enhance its position in the global aerospace aftermarket."

With more than 85 million parts and over 1.3 million unique airframe and engine part numbers in stock, Unical is one of the largest suppliers of new and used serviceable material for the global aerospace industry. The company sources, re-certifies and resells aircraft parts to commercial airlines, cargo operators, aircraft lessors, and aviation maintenance, repair and overhaul (MRO) businesses. Unical is vertically integrated with its repair stations, providing a competitive advantage with quick to market service.

Founded in 1990 and headquartered in City of Industry, CA, Unical has more than 450 employees and supplies aircraft parts and components to over 2,100 aviation customers around the globe through a network of dedicated facilities in the United States, Europe and Asia.

Lazard served as financial advisor, Morrison & Foerster as legal advisor, and Alvarez & Marsal as restructuring advisor to Unical. Sheppard Mullin served as legal advisor to the seller. Morgan Lewis served as legal advisor to Platinum Equity on the transaction.