Scottsdale, Arizona-based StandardAero Aviation Holdings Inc. and Airbus SE have finalized StandardAero’s acquisition of Vector Aerospace Holding SAS from Airbus. Negotiations for the acquisition were announced in July 2017. Terms of the deal were not revealed.
Vector – a global aerospace maintenance, repair, and overhaul company for turbine engines, components, fixed- and rotary-wing aircraft – generated revenues of more than $700 million in 2016. It employs approximately 2,200 people in 22 locations across Canada, the United States, the United Kingdom, France, Kenya, South Africa, Australia, and Singapore.
The newly combined company, which will use the StandardAero name, has more than 6,000 employees in 42 locations across five continents, with annual revenues of approximately $3 billion.
“We are excited to join forces with the Vector team in becoming one of the largest MRO companies in the world,” said Russell Ford, CEO of StandardAero. “Our combined organizations are better positioned to provide the industry with more global services, expanded MRO capabilities, and operational benefits to deliver faster, higher quality solutions to our combined customers worldwide. We look forward to joining together with the Vector leadership and employees as we begin to integrate our two organizations.”
StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components and energy markets. The company celebrated its 100th year of industry leadership in 2011. In 2015, StandardAero was purchased by Veritas Capital, a private equity firm headquartered in New York City.
In June 2011, Vector Aerospace was acquired by Eurocopter Holdings, the holding entity of the Eurocopter Group and a subsidiary of global aerospace and defense giant European Aeronautic Defence and Space Company (EADS), subsumed under the Airbus name since January 2014.