Ontic appoints Gareth Parkin as CFO

Ontic has appointed Gareth Parkin as its Chief Financial Officer (CFO).

Image courtesy Ontic

Gareth Parkin (above) will assume full responsibility as CFO on 14th February 2025, following a detailed transition period with the current CFO, Toby Woolrych and will be based at Ontic's Creedmoor facility in North Carolina.

With eight facilities across the UK and USA, Ontic is a global aerospace OEM that supplies complex aerospace parts, providing customers with stability in supply and repair and allows OEMs to focus on the development of new products by divesting their non-core lines to Ontic. It has a portfolio of 8,000+ top-level assemblies, providing engineered parts and repair services for established aircraft in the defence and commercial market, including fuel measurement systems, as well as a range of avionics, cockpit instruments and controls.

An experienced CFO, Gareth Parkin joins Ontic from Messer America, a provider of industrial and medical gases, where he was part of the leadership team who successfully took the company through a sale process involving GIC in 2023.

Prior to this, he spent 19 years in various Financial and Commercial roles within The Linde Group. Most notably here he led the divestiture of multiple assets across the Americas to meet anti-trust requirements, the largest asset package becoming the newly formed Messer Americas which was acquired by CVC in 2019.

Toby Woolrych will be leaving Ontic after three years at the end of March, having successfully supported the renewed partnership with Ontic's owners CVC last year, during which ownership transferred from CVC's Fund VII to Fund VIII. He is looking forward to using his experience and expertise in a range of new avenues going forward.

Gareth Hall, Ontic's CEO, said: "I would like to thank Toby for his significant contribution to Ontic. He has provided strategic leadership during a period of significant growth for the business where Ontic expanded its global footprint, signed a record volume and value of licenses and extended its offering to an ever-larger number of customers and platforms.

"We're delighted to welcome Gareth, who will oversee increased investment in enhanced customer support teams, dedicated repair capabilities, ongoing supply chain improvements, sustainment engineering resource, sector-leading data analytics capabilities, and the investment into our dedicated MRO network.

"These initiatives will reinforce Ontic's unique abilities in the transition of complex part manufacture from licensors into Ontic's facilities while maintaining or enhancing part availability to customers."

Ontic currently supports more than 80,000 in-service aircraft through its portfolio of nearly 200 licenses. It manufactures over 8,000 product lines (supporting OEMs, as well as spares and repairs) for its 1,500 customers worldwide.