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​StandardAero to be sold to Carlyle Group

Carlyle Group is to acquire US maintenance specialist StandardAero from private equity firm Veritas Capital.

The transaction is scheduled to be completed during the first quarter of 2019, Carlyle Group says.

No financial terms of the acquisition were disclosed.

Carlyle Group was a previous owner of StandardAero and sold the MRO provider to Dubai Aerospace Enterprise in 2007, which divested it in 2015 to Veritas Capital.

The Washington-based group has acquired and sold a number of aerospace companies, including parts dealer Aviall, Italian manufacturer Avio and aerostructure specialist Vought Aircraft Industries.

Engine part specialist Chromalloy’s parent, Sequa Corporation, is owned by Carlyle Group.

The group’s global head of aerospace, defence and government services, Adam Palmer, states: “StandardAero is well positioned in an attractive market and we look forward to building on its strong foundation by helping it grow.”

Under the new ownership, StandardAero chief executive Russell Ford foresees opportunity to “further our aggressive growth trajectory”.

The Scottsdale, Arizona-headquartered maintenance specialist – which describes itself as an “OEM-aligned strategic partner” – employs around 6,000 staff members across more than 40 international facilities, its website indicates.

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