NY Shop In Talks With Aircraft Parts Co. – Exclusive

Target: Wencor Inc.

Price: To Be Determined

Sponsor: Odyssey Investment Partners

Seller: Wencor Inc.

Odyssey Investment Partners is in talks to buy Wencor Inc., a Springville, Utah-based company that makes and distributes aircraft parts, according to a regulatory filing.

Wencor makes air turbine systems, air cycle machines, fuel pumps, engines and other parts for aircrafts and has sales and stocking offices in Florida, the Netherlands, Singapore and China.

If the deal is closed, the firm will make the investment out of Odyssey Investment Partners Fund IV LP, a $1.5 billion vehicle Odyssey raised in 2009, according to the filing.

The company appears to be a good fit for Odyssey Investment, which targets companies in aerospace services and products as well as in industrial manufacturing, distribution, safety products and supply chain management, among other sectors. Other investments in the aerospace industry have included SM&A, a Newport Beach, Calif.-based company y in which Odyssey invested in Dec. 2008 that helps clients—including Boeing and Raytheon—prepare and manage bids for contracts with the Department of Defense, Department of Homeland Security and other government agencies; and Aviation Technologies Inc., a Seattle company in which Odyssey invested in 2003 that supplies electrical and mechanical aircraft components used in military and civilian aircrafts.

Odyssey Investment typically makes control investments in companies with EBITDA in the range of $20 million to $80 million. The firm on Dec. 14 announced its most recent deal, an agreement to buy One Call Medical Inc., a Parsippany, N.J.-based company that helps the workers’ compensation industry manage diagnostic imaging scheduling and radiology networks, from TA Associates. Terms on that deal were not released.

Founded in 1997, the firm manages more than $2 billion in three funds, including a $760 million pool the firm raised in 1998 and a $750 million fund it raised in 2005.

Calls and e-mails to reach Stephen Berger, the co-founder of Odyssey Investment, and executives at Wencor for comment were not returned.