Global alternative asset manager The Carlyle Group will 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.
“We are excited to partner with The Carlyle Group, and we thank Veritas Capital for its support and partnership,” said Russell Ford, CEO of StandardAero. “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.”
“Russell Ford and the StandardAero team have built a reputation for industry-leading capabilities and customer service.<” said Adam J. 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.”
, “We have enjoyed our successful partnership with StandardAero. Russ and the StandardAero team have generated robust growth while consistently delivering outstanding services to customers through a relentless commitment to excellence,”said Ramzi Musallam, CEO and Managing Partner of Veritas Capital.