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FDH Aero, an inventory service provider, plans to accelerate its global growth by adding a second private equity investor. The California-based company announced that Bain Capital will become the majority owner with Audax Private Equity, FDH’s current majority shareholder, still holding a significant stake after the deal closes in the second half of the year.
The companies did not disclose the investment terms.
The aviation aftermarket has been attracting investors the past several years, and there’s no sign of it slowing down.
Bain told Aviation Week FDH attracted its investment because “aerospace and defense production is a priority investment theme ... due to the long-term tailwinds that are benefiting both commercial aerospace and defense suppliers. We view c-class parts as an attractive pocket of the market: the supply chain is very complex, so providers with strong capabilities can create a lot of shared value for suppliers and customers.”
Since Audax invested in FDH Aero in 2017, the supply chain company has completed 12 acquisitions and has expanded across 15 countries. “We are proud of FDH’s leadership team and 1,500 employees worldwide for their stewardship and look forward to working with Bain Capital through this next chapter of FDH’s growth,” said David Wong, Audax Private Equity partner.
FDH Aero CEO Ian Walsch and the existing management team will remain.
Bain said its investment will support FDH’s inventory and services, “including by ensuring a high degree of inventory availability and leveraging technology to enhance service levels. We also look forward to building on the company’s history of strategic acquisitions to expand globally and enter complementary markets.”
Bain has invested in several aviation entities including MRO Holdings, FBO chain App Jet, freighter leasing platform Titan Aircraft Investments, aircraft interiors manufacturer Jamco, engine company ITP Aero and new business jet finance and leasing platform JB Aircraft finance.
“We have consistently focused on backing leading businesses that create value for customers by solving pain points in their supply chains, and investing behind high-quality growth,” Bain said.
This deal is expected to close in the second half of 2026.
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