- With respect to an acquisition by StandardAero of Vector Aerospace Holding SAS
Amsterdam, 5 July 2017 - StandardAero Aviation Holdings, Inc. (“StandardAero”) and Airbus SE (“Airbus”) today announced that they have entered into exclusive negotiations with respect to an acquisition by StandardAero of Vector Aerospace Holding SAS (“Vector”) 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. StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components, energy and VIP completions markets. The company celebrated its 100th year of industry leadership in 2011. In 2015, StandardAero was purchased by Veritas Capital, a leading private equity firm headquartered in New York City. Veritas invests in companies that provide critical products and services to government and commercial customers worldwide including those operating in aerospace & defense, healthcare, technology, national security, communications, energy and education. More information can be found on the company's web site at www.standardaero.com.
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.