Audax Private Equity’s efforts to sell its portfolio company FDH Aero have stalled, according to 9fin sources.

The sponsor, which acquired FDH back in 2017 at an undisclosed valuation, put the company up for sale earlier this year. As we reported back in August, the firm hired advisors including Jefferies to help search for potential buyers.

The company, which provides hardware, replacement parts, and chemicals to various aerospace clients, was being marketed on around $100m of EBITDA, as we previously reported.

Aerospace has boomed coming out of the pandemic, putting aircraft component providers like FDH in a strong position. However, equity and bond markets have sold off hard in recent weeks amid geopolitical and economic uncertainty, hampering M&A activity.

Before FDH’s sale process stalled, both direct lenders and banks were involved in discussions around potential financing packages, according to 9fin sources. The company has an existing unitranche loan, sized at around $500m and led by Kayne Anderson.

Audax declined to provide comment for this article. FDH Aero and Kayne Anderson did not immediately respond to requests for comment, and Jefferies could not immediately be reached for comment.