StandardAero will acquire the engine repair and overhaul (ERO) business of Signature Aviation for $230 million under a definitive agreement between the two companies. Signature’s ERO portfolio includes Dallas Airmotive, H&S Aviation, W.H. Barrett Turbine Engine Co., International Governor Services, and International Turbine Service.
“We are pleased that we have reached agreement to sell our ERO business to StandardAero, where we believe the business will continue to flourish,” said Signature Aviation CEO Mark Johnstone. The deal, which comes as Signature Aviation itself is an acquisition candidate, is expected to close midyear.
Based in Dallas, Signature’s ERO comprises engine overhaul facilities in Dallas and Portsmouth, England, 10 regional turbine centers, one component MRO site, and two parts/distribution facilities. Combined, the ERO employs 1,100 people and generated $500 million in revenue in 2020.
StandardAero said the Signature ERO facilities provide maintenance, repair, and overhaul (MRO) of the majority of turbine engine models found on fixed- and rotary-wing aircraft used in business aviation, as well as in government, military, and commercial applications. Specifically, the acquisition will expand StandardAero’s MRO capabilities on a number of Pratt & Whitney, Honeywell, Rolls-Royce, and General Electric engines, including services for PW200, PW500, Spey and Tay engines, and PW901 APUs. StandardAero’s component repair capabilities, parts distribution channels, and mobile field services also will benefit from the acquisition.
“ERO is a terrific and complementary fit for StandardAero, expanding our portfolio with more volume of the engines we support today, while also growing our service base with a significant number of new engine platforms and customers,” said StandardAero chairman and CEO Russell Ford. “Like StandardAero, ERO is OEM-aligned and has a long history of outstanding service and customer satisfaction. With this acquisition, StandardAero will achieve significant cost and operational efficiencies and will continue on pace to become one of the preeminent MRO companies in the world.”