StandardAero Aviation Holdings bought Vector Aerospace from Airbus, which immediately expands its MRO capabilities. Vector is an MRO that supports engines and components on both fixed- and rotary-wing aircraft, generating revenues of more than $700 million in 2016 and employing 2,200.
With the acquisition--with the price of which was not disclosed--StandardAero will have more than 6,000 employees in 42 locations and annual revenues of $3 billion.
StandardAero CEO Russell Ford says Vector has a highly skilled and long-tenured workforce of certified technicians and aerospace professionals. “Together, we will quickly align our vision to constantly raise the standard for aerospace MRO services. “
Ford sees benefits for StandardAero customers in operational efficiency, better turn times, customized solutions, additional research expertise and an expanded global presence.
Vector immediately gives StandardAero turboprop MRO capabilities for Pratt & Whitney Canada PT6s and PW100s. It also adds capabilities for helicopter engines such as Allison M250s, Pratt PT6Ts, Safran Arriel 1 and 2s and GE T58s, CT58s, T700s and CT7s. And Vector supports helicopter airframe and components for Boeing, Sikorsky, Airbus Helicopters and Bell Helicopter.
A StandardAero team is now working to integrate Vector into the acquiring company. Ford says no decisions have been made on staffing and facilities so far, and observes that, “StandardAero conducts facility and manpower planning on an ongoing basis.”
And there may be more to come. StandardAero “has an active pipeline of additional, potential acquisitions,” Ford notes.