Houlihan Lokey Advises BP Aero

Houlihan Lokey is pleased to announce that BP Aero has been acquired by ITP Aero, a portfolio company of Bain Capital. Houlihan Lokey served as the exclusive financial advisor to BP Aero. This transaction closed on February 1, 2024.

Founded in 2008 and headquartered in Irving, Texas, BP Aero is a leading aerospace aftermarket service provider that conducts complex engine component repairs, engine hospital shop visits, and engine teardowns. The company is a key maintenance partner to leading engine OEMs, commercial airlines, asset managers, and aftermarket service and material providers for large commercial and military engine platforms, including LEAP, all major CFM56 variants, CF6-80C2, and F119, among others.

ITP Aero is one of the leading aerospace propulsion companies in the world, employing approximately 5,500 people at its production centers in Spain, the U.K., Mexico, the U.S., Malta, and India. The company’s capabilities include the design, research and development, manufacturing and casting, assembly, and testing of aeronautical modules and engines for commercial aviation and defense applications. ITP Aero also provides maintenance repair and overhaul (MRO) services for a wide range of business jet and defense engines, including providing MRO services to the Spanish Ministry of Defense.

Houlihan Lokey served as the exclusive financial advisor to BP Aero and assisted in structuring and negotiating the transaction on its behalf. Within its global Industrials Group, Houlihan Lokey’s Aerospace and Defense Practice is a leading M&A advisor to aerospace aftermarket companies. Since 2020, the team has closed more than 60 transactions worth over $10 billion in enterprise value. With a staff of more than 15 investment bankers, Houlihan Lokey’s Aerospace and Defense Practice is among the largest dedicated industry banking teams worldwide. In 2023, the Industrials Group was ranked as the No. 1 M&A advisor for global industrials transactions under $1 billion, according to LSEG (formerly Refinitiv).*

If you would like more information about Houlihan Lokey or have questions regarding the firm’s role in this transaction, please contact the team members listed below.