One Equity Partners’ Portfolio Company EthosEnergy to Sell Aerospace & Defense Business

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12/16/2025 - 03:49 PM

NEW YORK--(BUSINESS WIRE)-- One Equity Partners (“OEP”), a middle market private equity firm, today announced that portfolio company EthosEnergy (“Ethos”) has agreed to sell its aerospace and defense business comprised of EthosEnergy Accessories and Components Limited and EthosEnergy Accessories and Components, LLC (collectively referred to as “Ethos A&C” or “Ethos’ A&D Business”), to Wencor Group LLC, a subsidiary of HEICO Corporation (NYSE: HEI and HEI.A). Financial terms of the private transaction were not disclosed.

“This transaction is part of Ethos’ broader transformation to simplify and optimize the company’s structure to deliver long-term value for customers,” said Ante Kusurin, Partner at One Equity Partners. "Shortly after One Equity acquired Ethos in December 2024, we identified HEICO as a potential strategic acquirer for Ethos’ A&D business, and we are thrilled to have achieved this significant milestone within the first year of our partnership with the Ethos team.”

EthosEnergy will continue to maintain a relationship with the Ethos’ A&D Business, enabling access to its specialized capabilities and services for customers.

“This highly strategic sale of a non-core business allows Ethos to strengthen its core operations focused on industrial gas turbines, and the Ethos’ A&D Business is joining an organization that is aligned with its core expertise,” said Ana Amicarella, CEO of EthosEnergy. “We are confident Ethos’ A&D Business will continue to provide its customers in the aerospace & defense markets with exceptional, high-quality repair services as a part of the Wencor and HEICO families.”

Jefferies and KPMG International Ltd. provided financial advice, Davis Polk & Wardwell LLP provided legal counsel, and Arnovia LP provided commercial advice.

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 500 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

About EthosEnergy

EthosEnergy turns on potential to deliver services and solutions globally for rotating equipment to make energy affordable, available, and sustainable. Tailoring solutions for the power, oil & gas, industrial and aerospace markets, so customers can achieve more. For more information, visit https://ethosenergy.com/.