DAE Puts StandardAero on the Block
Dubai Aerospace Enterprise (DAE) is accepting offers “for part or all of StandardAero,” according to a Reuters report last Friday. A spokesman for StandardAero told AIN, “DAE is an investment company that commonly looks at its strategic options for its investments.” DAE acquired the MRO in an August 2007 $1.9 billion buyout of Landmark Aviation and StandardAero Holdings from the Carlyle Group. According to DAE at the time, StandardAero was to be the core of a plan to become a “global MRO provider.” DAE subsequently expended significant capital on acquisitions and infrastructure improvements toward that end. It acquired engine component overhauler TSS Aviation of Cincinnati, Ohio, for $65 million. It also invested in a $5.5 million expansion of StandardAero’s Maryville, Tenn. facility to prepare to provide MRO services for the PW600-series engines slated for use on very light jets.