Engine MRO provider StandardAero has started discussions with Airbus about acquiring its subsidiary Vector Aerospace.
In a statement released Wednesday (July 5), Scottsdale-headquartered StandardAero confirmed exclusive negotiations have begun with Canada-based Vector, a specialist in repair services for turbine engines, components and fixed- and rotary-wing aircraft.
Any agreement will be subject to workers’ council consultation, along with a signing of definitive and customary approvals such as regulatory clearances.
No timeframe was provided on when any potential deal could be finalized.
If successful, StandardAero would take on a company that generated revenues of $704.8 million across its businesses last year and employs 2,200 staff across 22 global locations in North America, Europe, Africa and Asia-Pacific.
Airbus acquired Vector Aerospace in 2011 for around $625 million.