CPP Investments commits millions to support Ontic’s growth, alongside ongoing investment by CVC Capital Partners
Canada Pension Plan Investment Board has announced a commitment of US$450m to support the growth of Ontic, with CVC Capital Partners (CVC) continuing its investment in the business.
Ontic, headquartered in the UK, is a leading provider of original equipment manufacturer (OEM) licensed parts and repair services for aerospace technologies, with operations in the US and Singapore.
Ontic supports global aerospace leaders, manufacturing and assembling over 8,000 flight-critical systems and products. The company serves a wide range of clients, including both OEMs and aircraft operators.
Hafiz Lalani, managing director and global head of Direct Private Equity at CPP Investments, expressed confidence in Ontic's market position.
He emphasized the strategic collaboration with CVC, highlighting the partnership's aim to support Ontic's continued growth trajectory and deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.
CPP Investments' Direct Private Equity strategy focuses on assets and sub-sectors where it has competitive advantages, such as a strong record of accomplishment, superior insights, and strategic partnerships, to secure attractive risk-adjusted returns.
The transaction, already signed, awaits customary conditions and regulatory approvals, with completion expected by the end of 2024.
