Inflexion Private Equity Partners LLP on Wednesday, June 1, said it’s agreed to sell Avantus Aerospace Inc. to Arcline Investment Management LP.

Neither London-based Inflexion nor Arcline in a separate statement disclosed the financial terms of the transaction, but The Wall Street Journal reported it values Avantus at roughly $1.1 billion. Avantus and its subsidiaries will operate as brands of Arcline portfolio company Novaria Group Inc.

The transaction comes after The Deal reported in March, that Avantus was working with Perella Weinberg Partners LP to evaluate options including a sale. Two sources said Avantus was projected to generate roughly $30 million of Ebitda in 2026, while a third expected the business could be marketed on as much as $40 million of Ebitda.

Headquartered in Valencia, Calif., Avantus provides C-Class components for the aerospace and defense industry, including engineered shims, fasteners and detailed parts. The company operates across eight businesses in the U.S. and Europe and supplies original equipment manufacturers, Tier 1 suppliers and distributors across commercial and defense aircraft programs.

Avantus products are used on major commercial, business jet and defense aircraft platforms in production. The company serves more than 1,600 customers globally and delivers more than 25 million units annually.

Inflexion backed the secondary buyout of Shimtech Industries Ltd. alongside Auctus Industries Ltd. in May 2015, in a deal reportedly valued at about $220 million, before renaming the business Avantus in 2020.

Inflexion said it strengthened Avantus during its ownership through financial, organizational, commercial and operational initiatives following the suspension of the Boeing 737 MAX and the disruption caused by the Covid-19 pandemic. The firm said the business also expanded its customer base and product range through targeted acquisitions and a new senior leadership team.

According to Inflexion, the aerospace sector has seen strong demand in recent years, with Avantus benefiting from operational investment, a disciplined M&A program and management execution.

Arcline said Avantus’ positions across major commercial and defense aircraft programs make it a fit for Fort Worth-based Novaria, which focuses on precision component companies in the aerospace and defense sectors. Arcline agreed to buy the company in November from KKR & Co. (KKR) for $2.2 billion.

Inflexion is a middle market private equity firm that invests in business services, technology, financial services, healthcare, industrials and consumer companies. The company’s buyout and partnership capital strategies both target companies with enterprise valuations of up to £1 billion, while its enterprise strategy focuses on lower middle market companies valued at up to €175 million ($199.6 million).

San Francisco-based Arcline is a growth-oriented private equity firm focused on the industrial technology, engineered components, critical infrastructure machinery, specialized aerospace and defense systems and measurement and monitoring areas.

The firm closed its $6 billion Arcline Capital Partners IV fund in October. According to With Intelligence, the fund expects to build a portfolio of five to seven companies with ticket sizes between $400 million and $1 billion per transaction.

Perella Weinberg was the exclusive financial adviser to Avantus and Inflexion, with Stephen E. Lee and Brian J. Raynor of Willkie Farr & Gallagher LLP as counsel.

Lazard Ltd. was financial adviser to Arcline, with Carl P. Marcellino, Elizabeth Todd and Jeremy A. Zucker of Ropes & Gray LLP providing counsel.