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Clifford Chance advises Permira on buyout of Topcast, the largest independent aircraft parts distributor in Asia Pacific

9 September 2019

Clifford Chance advises Permira on buyout of Topcast, the largest independent aircraft parts distributor in Asia Pacific

Leading international law firm Clifford Chance advised a company backed by the Permira Funds on its proposed acquisition of the majority of the shares of Topcast Aviation Supplies Company Limited and its affiliates, the largest independent aircraft parts distributor in Asia Pacific, from its founders.

A cross-practice team was led by partner Bryan Koo, who was supported by senior associate I-Ming Tan and associates Jonathan Yan and Cynthia Zhang on M&A aspects. Finance matters were led by partner Matt Truman, assisted by consultant Clara Shirota and associate Beej Radia, and Antitrust advice was provided by partner Richard Blewett and associate Xiang Li.  

Bryan said, "Our team was very pleased to support Permira on this strategic acquisition in the aircraft parts distribution sector. The industry is fast growing as it benefits from airline traffic growth in China and Asia Pacific and the gradual ageing of a relatively young Asia-based airline fleet."

Permira is a global investment firm. Founded in 1985, the firm advises private equity funds with a total committed capital of approximately US$47 billion and makes long-term investments, including majority control investments as well as strategic minority investments, in companies with the objective of transforming their performance and driving sustainable growth.

Founded in 1991 and headquartered in Hong Kong, Topcast has nineteen offices across Asia, the Americas and the UK.  Its core business involves the distribution of aircraft parts to airlines, Maintenance, Repair, and Overhaul (MRO) service providers and Original Equipment Manufacturers (OEMs). It also provides technical support and maintenance services to customers.