Wesco Aircraft Holdings to buy Haas Group

3 February 2014

Wesco Aircraft Holdings, Inc. (NYSE: WAIR) said it has entered into an agreement to acquire Haas Group Inc. for USD550m in cash from certain investment funds affiliated with The Jordan company, L.P.

With USD573.5m in 2012 revenues, Haas is a leading global provider of chemical supply chain management (CSCM) solutions to the commercial aerospace, airline, military, energy, and other markets. Haas is headquartered in West Chester, PA, with over 1,300 employees and 35 distribution hubs and forward stocking locations around the world.

The acquisition is expected to be financed by a new USD525m term loan B facility to be added to the company´s existing senior secured credit facilities, cash on hand and drawings under the company´s existing revolving credit facility, with the term loan B expected to be provided by a group of lenders led by BofA Merrill Lynch. Wesco expects the acquisition, which has been unanimously approved by the boards of directors of Wesco and Haas, to close by the end of the first calendar quarter of 2014, subject to customary closing conditions.

Evercore is acting as financial advisor and Latham & Watkins LLP is serving as legal advisor to Wesco. Harris Williams & Co. is acting as financial advisor and Mayer Brown LLP is serving as legal advisor to The Jordan company.

Wesco is one of the world´s largest distributors and providers of comprehensive supply chain management services to the global aerospace industry. Wesco has more than 1,300 employees across 43 locations in 13 countries.

Haas Group is a leading global provider of CSCM solutions to the commercial aerospace, airline, military, energy, and other markets. Haas is headquartered in West Chester, PA, with over 1,300 employees and 35 distribution hubs and forward stocking locations around the world.

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