Jan 9, 2020   SOURCE: BusinessWire

Ontic Signs License Agreement With Meggitt PLC

Ontic Engineering and Manufacturing, Inc. (“Ontic”), the aerospace industry’s leading provider of ‘Extended Life Solutions’ for Original Equipment Manufacturer (OEM) legacy products, has signed another new exclusive license agreement with Meggitt PLC for Pneumatic Valves, Digital Analogue Units (DAU), Triplex Transducer Units (TTU), Data Acquisition and Processing Units (DAPU) and Electronic Processing Units (EPU).

The aerospace applications for these products include a range of military platforms, including the B-1B Lancer, J-85 Engine, AV-8B, Hawk, EH-101 and Tornado. Under the terms of the agreement, Ontic will be responsible for all continuing Part 21 new build manufacturing, as well as comprehensive Part 145 repairs and spares support for the global customers. These new product lines will be transitioned into Ontic’s United States and United Kingdom facilities.

Gareth Hall, President of Ontic, stated, “Ontic and Meggitt have had a long standing partnership since 1995. This is our 5th license agreement with Meggitt, and the latest in a recent succession of transactions. Ontic is committed to strategically assisting OEMs with the ongoing support of their non-core products, allowing our partners to progress and concentrate on their strategic priorities. We are pleased to add this license to our extensive range of product families, which builds on Ontic’s capabilities.”

Ontic’s global legacy focus is supported by manufacturing and MRO facilities in Chatsworth, California; Creedmoor, North Carolina; Plainview, New York; Cheltenham in the United Kingdom and in Singapore.

About Ontic

With over 45 years of aerospace product manufacturing and aftermarket support experience, Ontic provides FAA, CAAS, CAAC, TCCA, DCA, EASA Part 21 and 145 OEM support, including new and serviceable spares and repairs for over 7,000 mature aircraft parts. Its portfolio of products, licensed or acquired from major OEMs such as Meggitt, Honeywell, UTC Aerospace, Safran, Thales and GE Aviation, span all major aircraft systems in both civil and military markets. For more information, please visit www.ontic.com or contact susan.carpenter@ontic.com.

About CVC Capital Partners

CVC is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 24 offices and over 500 employees throughout Europe, Asia and the US. To date, CVC has secured commitments of over US$129 billion from some of the world's leading institutional investors across its private equity and credit strategies. In total, CVC currently manages approximately US$83 billion of assets. Today, funds managed or advised by CVC are invested in 73 companies worldwide, employing over 300,000 people in numerous countries.

Together, these companies have combined annual sales of approximately US$100 billion. For further information about CVC please visit: www.cvc.com.