StandardAero has entered into a definitive agreement to acquire Signature Aviation?s Engine Repair and Overhaul (ERO) business.ÿ The transaction is expected to close mid-2021, subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions.ÿÿ
Like StandardAero, ERO is an engine MRO provider primarily for business jet and rotorcraft platforms made up of the following five entities:ÿ Dallas Airmotive, H&S Aviation, W.H. Barrett Turbine Engine Company, International Governor Services (IGS) and International Turbine Service (ITS).ÿ ERO is headquartered in Dallas, Texas, with two overhaul facilities (one in Dallas and the other in Portsmouth, England), ten regional turbine centers, one component MRO site and two parts/distribution facilities.ÿÿ
ERO employs around 1,100 people with 2020 annual revenue around $500 million.ÿ Customers include regional airlines, commercial transportation providers, corporate flight departments, private operators, government agencies and defense departments.ÿ
Services include MRO for the majority of turbine engine models powering fixed and rotary wing aircraft used for business aviation, and many of the engines used in government, military and commercial applications.ÿ
?ERO is a terrific and complementary fit for StandardAero, expanding our portfolio with more volume of the engines we support today, while also growing our service base with a significant number of new engine platforms and customers,? said Russell Ford, Chairman & CEO of StandardAero.ÿ ?Like StandardAero, ERO is OEM-aligned and has a long history of outstanding service and customer satisfaction.ÿ With this acquisition, StandardAero will achieve significant cost and operational efficiencies and will continue on pace to become one of the preeminent MRO companies in the world.?
Upon closing, ERO will significantly expand upon StandardAero?s current capabilities for providing MRO services for a number of Pratt & Whitney, Honeywell, Rolls-Royce and General Electric platforms.ÿ The acquisition also brings new capabilities to StandardAero?s MRO portfolio including services for PW200, PW500, Spey & Tay engines and PW901 APUs.ÿ In addition, ERO also expands StandardAero?s component repair capabilities, parts distribution channels and mobile field services for our combined customers.
?We are excited to combine forces with ERO and looking forward to welcoming all of its employees to the StandardAero family,? Ford added.
