StandardAero Wraps Up Signature s ERO Buy
ainonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ainonline.com Daily Mail and Mail on Sunday newspapers.
StandardAero completes acquisition of Signature Aviation s Engine Repair and Overhaul business
verticalmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from verticalmag.com Daily Mail and Mail on Sunday newspapers.
StandardAero to acquire Signature Aviation’s Engine Repair and Overhaul business StandardAero Press Release | February 17, 2021
Estimated reading time 3 minutes, 4 seconds.
StandardAero, a leading provider of maintenance, repair, and overhaul (“MRO”) services, has entered into a definitive agreement to acquire Signature Aviation’s Engine Repair and Overhaul (ERO) business. The transaction is expected to close mid-2021, subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions.
Like StandardAero, ERO is an engine MRO provider primarily for business jet and rotorcraft platforms made up of the following five entities: Dallas Airmotive, H&S Aviation, W.H. Barrett Turbine Engine Company, International Governor Services (IGS) and International Turbine Service (ITS). ERO is headquartered in Dallas, Texas, with two overhaul facilities (one in Dallas and the other in Portsmouth, England), ten regional turbine centers, one com
- February 17, 2021, 10:09 AM
MRO provider StandardAero will significantly expand its engine repair and overhaul business through the acquisition of Signature Aviation s engine repair and overhaul unit that comprises well-known names such as Dallas Airmotive. (Photo: StandardAero)
StandardAero will acquire the engine repair and overhaul (ERO) business of Signature Aviation for $230 million under a definitive agreement between the two companies. Signature’s ERO portfolio includes Dallas Airmotive, H&S Aviation, W.H. Barrett Turbine Engine Co., International Governor Services, and International Turbine Service.
“We are pleased that we have reached agreement to sell our ERO business to StandardAero, where we believe the business will continue to flourish,” said Signature Aviation CEO Mark Johnstone. The deal, which comes as Signature Aviation itself is an acquisition candidate, is expected to close midyear.