FDH Aero secures majority investment from Bain Capital
Global aerospace supply chain company FDH Aero has struck a deal to bring in Bain Capital Private Equity as its majority shareholder, with existing backer Audax Private Equity expected to retain a significant stake in the business.
The California-based company said the capital injection will fuel its next stage of expansion, targeting both organic growth and further acquisitions, while CEO Ian Walsh and his management team remain in place.
The deal builds on nearly a decade of rapid expansion under Audax, during which FDH completed 12 acquisitions, extended its footprint across five continents, and delivered substantial revenue growth since Audax first backed the company in 2017.
“This partnership marks an important and planned milestone in our growth plans and reflects the strength of our people, our business, and the opportunities ahead to create value for our customers and stakeholders,” said Walsh. “With Bain Capital’s deep operational and strategic experience, together with the continued support of Audax, we are well positioned to continue investing for future growth.”
Bain Capital brings more than four decades of investing across the industrial and aerospace sectors. Partners Stephen Thomas and Ajay Kumar both pointed to FDH’s customer relationships and operational track record as key factors behind the firm’s interest.
“FDH has built an exceptional platform in aerospace and defense logistics, distinguished by deep customer relationships, a service-first culture, and a level of execution that gives us tremendous confidence in the business,” said Thomas.
“We are excited to partner with Ian and the full FDH team,” Kumar added. “Together, we plan to continue investing in the company’s capabilities and inventory availability to further strengthen its customer-centric growth strategy.”
Audax partner David Wong described the deal as a natural progression for the company it has backed since 2017. “Since our initial investment nine years ago, FDH Aero has established itself as an integral supply chain partner to the global aerospace sector,” he said.
The transaction, which remains subject to standard regulatory clearances, is expected to close in the second half of 2026. Jefferies, RBC Capital Markets, and BMO Capital Markets advised Bain Capital and arranged debt financing for the deal, while William Blair & Company advised FDH and Audax.
In the business aviation space, FDH Aero works as a supply chain partner on parts procurement by providing access to inventory of hardware, electrical components and chemical consumables for both aircraft manufacturing (OEM) and aftermarket maintenance, repair, and overhaul (MRO) operations.
