Key Takeaways
- • Platinum Equity completed the acquisition of Héroux-Devtek, a leading global landing gear manufacturer, in early 2025 for CAD $1.35 billion in a public-to-private transaction.
- • Héroux-Devtek, founded in 1942, ranks as the third-largest landing gear manufacturer globally and carries historical significance as the builder of the Apollo 11 lunar module landing gear.
- • Platinum Equity's competitive advantage in the sales process centered on an intensive, line-by-line diligence methodology that examined contracts and financial data with audit-level rigor, as articulated by Managing Director Delara Zarrabi.
- • The acquisition underscores private equity's willingness to deploy capital for mature industrial manufacturers with established market positions and aerospace sector exposure, a strategically valuable segment with long-term contract visibility.
- • Platinum Equity Co-President Louis Samson, a Quebec native, played a central integrative role in bridging stakeholder relationships and establishing operational momentum post-acquisition at the company's Quebec headquarters.
Summary
Platinum Equity completed its acquisition of Héroux-Devtek in early 2025, securing the aerospace components manufacturer for CAD $1.35 billion in a public-to-private transaction. The deal represents a significant capital deployment in the industrial aerospace sector, targeting a company with over eight decades of operational history and market-leading credentials.
Héroux-Devtek, established in 1942, has evolved from a specialized machine tooling operation into the world's third-largest landing gear manufacturer. The company's historical trajectory includes manufacturing the landing gear for the Apollo 11 lunar module, a credential that reflects both engineering capability and long-standing relationships within the aerospace defense industrial base. The company's expansion into broader aerospace products has positioned it to capture demand across both commercial and defense aviation segments.
Platinum Equity's victory in the competitive sales process reflected what the firm characterized as a differentiated diligence methodology. Managing Director Delara Zarrabi emphasized the granular nature of the firm's review, stating that the team conducted a line-by-line and contract-by-contract examination "almost like we were auditing this company" to justify the transaction pricing and validate long-term value creation assumptions. This approach diverged from standard public company disclosure, requiring extensive data beyond typical earnings reports to address the deeper financial and operational transparency demands of private equity underwriting.
Louis Samson, Platinum Equity's Co-President and a Quebec native, served as a critical relationship bridge during both transaction completion and post-close integration. Samson's involvement at the company's Quebec headquarters during the summer following closing signaled Platinum's commitment to hands-on management and stakeholder alignment in the critical early operating phase. This engagement model aligns with institutional private equity practice, where active operational oversight during the first 100 days post-acquisition establishes the foundation for value creation initiatives.
The acquisition reflects broader private equity interest in mature industrial manufacturers with established market positions, contracted revenue streams, and exposure to defense and aerospace end-markets characterized by secular growth drivers and government-supported demand stability.
Héroux-Devtek, established in 1942, has evolved from a specialized machine tooling operation into the world's third-largest landing gear manufacturer. The company's historical trajectory includes manufacturing the landing gear for the Apollo 11 lunar module, a credential that reflects both engineering capability and long-standing relationships within the aerospace defense industrial base. The company's expansion into broader aerospace products has positioned it to capture demand across both commercial and defense aviation segments.
Platinum Equity's victory in the competitive sales process reflected what the firm characterized as a differentiated diligence methodology. Managing Director Delara Zarrabi emphasized the granular nature of the firm's review, stating that the team conducted a line-by-line and contract-by-contract examination "almost like we were auditing this company" to justify the transaction pricing and validate long-term value creation assumptions. This approach diverged from standard public company disclosure, requiring extensive data beyond typical earnings reports to address the deeper financial and operational transparency demands of private equity underwriting.
Louis Samson, Platinum Equity's Co-President and a Quebec native, served as a critical relationship bridge during both transaction completion and post-close integration. Samson's involvement at the company's Quebec headquarters during the summer following closing signaled Platinum's commitment to hands-on management and stakeholder alignment in the critical early operating phase. This engagement model aligns with institutional private equity practice, where active operational oversight during the first 100 days post-acquisition establishes the foundation for value creation initiatives.
The acquisition reflects broader private equity interest in mature industrial manufacturers with established market positions, contracted revenue streams, and exposure to defense and aerospace end-markets characterized by secular growth drivers and government-supported demand stability.
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