News
Warburg Pincus Acquires Topcast, Asia Pacific’s Largest Independent Aircraft Parts Distributor and MRO Service Provider in the Civil Aviation Industry Nov 25, 2025
The firm brings proven track record in the global aerospace industry and long-term commitment to Asia to support Topcast’s next phase of growth
Hong Kong, November 25, 2025 – Warburg Pincus, the pioneer of global growth investing, today announced the acquisition of Topcast Aviation Supplies Company Limited (“Topcast”), the largest independent distributor of civil aviation parts and Maintenance, Repair, and Overhaul (MRO) service provider in Asia Pacific.
Founded in 1991 and headquartered in Hong Kong, Topcast offers integrated solutions to the civil aviation industry, including the distribution of aircraft parts and consumables, buyer-furnished equipment (BFE), Original Equipment Manufacturer (OEM) services, and repair and maintenance support. With an unparalleled local presence in Asia Pacific and particularly strong market leadership in Greater China, Topcast has become the partner of choice for airlines, MROs, and OEMs globally. The company operates across Asia Pacific, EMEA, and Americas, connecting global aviation parts manufacturers with the region’s fast-growing markets.
Warburg Pincus is among the most active private equity investors in the global aviation sectors, with current and former investments including Accelya, Aquila Air Capital, CAMP Systems, Consolidated Precision Products, Extant Aerospace, TransDigm, Triumph and Wencor. Notably, Warburg Pincus has a strong presence in Asia Pacific, with over 30 years of local investment experience and around US$34 billion invested in more than 270 companies in the region, underscoring its localized and partnership-oriented approach to long-term growth and value creation.
Ben Zhou, Managing Director and Co-Head of China Private Equity at Warburg Pincus, said, “Asia Pacific is one of the most dynamic and fast-growing civil aviation markets in the world. Topcast has built a strong reputation as a trusted and innovative partner to airlines, MROs, and OEMs, helping to ensure the efficiency, reliability, and safety of the aviation supply chain. It is a differentiated business with deep regional expertise, technical know-how, and a customer-centric approach. We look forward to supporting Topcast in deepening its local capabilities, expanding its global partnerships, and driving its next phase of sustainable growth.”
Orson Lo, Chief Executive Officer of Topcast said, “We are excited to begin this new chapter with Warburg Pincus. Their deep sector experience, global network, localized approach and growth-oriented philosophy will support our mission to deliver best-in-class service and innovative solutions to the civil aviation industry in Asia Pacific and beyond. Together, we will continue to invest in our people, service infrastructure, digital capabilities, and global operations to better serve our partners around the world.”
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About Topcast
Founded in 1991 and headquartered in Hong Kong SAR, Topcast is a leading civil aircraft parts distributor and MRO service provider. The company offers aftermarket and OEM aircraft parts, equipment, repair services and technical support for a broad range of aircraft types. With a strong global network, Topcast has more than 20 offices across Asia Pacific, EMEA, and Americas, connecting suppliers with customers for over 90 countries. Please visit www.topcast.com
About Warburg Pincus
Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $85 billion in assets under management, and more than 215 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.
The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com
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Warburg Pincus
Lisa Liang
Senior Vice President, Asia Head of Marketing and Communications