Onex Corp. (ONEX.TO), a Canadian investment management firm, announced on Thursday that Onex Partners Opportunities Fund has agreed to buy Farsound, a British supply chain solutions provider for the aerospace engine maintenance, repair and overhaul or MRO market.
The financial terms of the transaction, expected to be closed later this year, were not disclosed.
The investment has been made in partnership with Farsound's management, led by Chief Executive Officer Chris Knott.
Farsound works on the procurement, supply, and inventory management of high-volume consumable hardware components for aerospace engine overhauls.
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