AMSTERDAM --- StandardAero Aviation Holdings, Inc. and Airbus SE today announced that they have entered into exclusive negotiations with respect to an acquisition by StandardAero of Vector Aerospace Holding SAS from Airbus.
Vector is a global aerospace maintenance, repair and overhaul company, providing responsive, quality support for turbine engines, components, fixed- and rotary-wing aircraft. A truly international company, it generated revenues of US$ 704.8 million in 2016 and employs approximately 2,200 people in 22 locations across Canada, the United States, the United Kingdom, France, Kenya, South Africa, Australia and Singapore.
The proposed transaction is subject to workers’ council consultation, signing of definitive agreements and customary approvals, such as regulatory clearances.
StandardAero is a global independent provider of services, including engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions and paint applications. In 2015, StandardAero was purchased by Veritas Capital, a private equity firm headquartered in New York City.
Airbus is a global leader in aeronautics, space and related services. In 2016, it generated revenues of € 67 billion and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners from 100 to more than 600 seats. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as Europe’s number one space enterprise and the world’s second largest space business. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.