Permira’s Buyout Of Topcast Aviation Supplies Company Limited

Clifford Chance advised Permira on the buyout of Topcast Aviation Supplies Company Limited and its affiliates, the largest independent aircraft parts distributor in Asia Pacific. Kirkland & Ellis represented the founders of Topcast Aviation Supplies Company Limited on the transaction.

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.

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.

The Permira Funds were advised by HSBC as the exclusive financial advisor on the transaction. Topcast was advised by RBC Capital Markets LLC as the exclusive financial advisor on the transaction.

A cross-practice team was led by partner Bryan Koo (Picture), 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.

The Kirkland team was led by transactional partners Nicholas Norris and Derek Poon and debt finance partner David Irvine.

Involved fees earner: Richard Blewett – Clifford Chance; Bryan Koo – Clifford Chance; Xiang Li – Clifford Chance; Beej Radia – Clifford Chance; Clara Shirota – Clifford Chance; I-Ming Tan – Clifford Chance; Matthew Truman – Clifford Chance; Jonathan Yan – Clifford Chance; Cynthia Zhang – Clifford Chance; David Irvine – Kirkland & Ellis; Nicholas Norris – Kirkland & Ellis; Derek Poon – Kirkland & Ellis;

Law Firms: Clifford Chance; Kirkland & Ellis;

Clients: Permira; Topcast Aviation Supplies;

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Author: Michael Patrini