The Carlyle Group to acquire StandardAero
By Wings Staff
The Carlyle Group today announced it has agreed to acquire StandardAero, a global provider of aftermarket engine maintenance, repair and overhaul (MRO) services for the aerospace and defense industries, from Veritas Capital. The transaction is subject to customary regulatory conditions and is expected to close by the end of the first quarter of 2019.
By Wings Staff
Financial terms were not disclosed. Equity for the investment will come from Carlyle Partners VII, an US$18.5 billion fund that focuses on buyout transactions in the United States.
“We look forward to working with Carlyle to further our aggressive growth trajectory as we continue providing world-class services to our customers as one of the world’s best and largest independent MRO service providers,” said Russell Ford, CEO of StandardAero.
Founded in 1911, StandardAero is one of the world’s largest independent MRO providers offering services for commercial aviation, business aviation, military and industrial power customers.
“Russell Ford and the StandardAero team have built a reputation for industry-leading capabilities and customer service,” said Adam Palmer, managing director and global head of aerospace, defense and government services for The Carlyle Group. “StandardAero is well positioned in an attractive market and we look forward to building on its strong foundation by helping it grow and meet evolving customer needs.”