Veritas Capital said Tuesday it agreed to buy StandardAero from Dubai Aerospace Enterprise Ltd. Financial terms weren’t announced. Scottsdale, Arizona-based Standard Aero provides aircraft maintenance, repair and overhaul services as well as extensive services and custom solutions for business aviation, commercial aviation, military and industrial power customers.
New York, NY, May 26, 2015 – Veritas Capital, a leading private equity investment firm, today announced that an
affiliate of Veritas has signed a definitive agreement to acquire StandardAero from Dubai Aerospace Enterprise (DAE)
Ltd. Terms of the transaction were not disclosed.
Founded in 1911, StandardAero is one of the world’s largest independent providers of aircraft maintenance, repair and
overhaul (MRO) services and offers extensive services and custom solutions for business aviation, commercial
aviation, military and industrial power customers in more than 70 nations around the world. StandardAero has more
than 3,500 employees and provides a global service network of 13 primary facilities in the U.S., Canada, Europe,
Singapore and Australia, in addition to 50 sales and field service locations.
“StandardAero is the leading independent provider of aircraft engine MRO services in North America and we are very
excited for the opportunity to partner with Russell Ford and his leadership team to help drive its next phase of
growth, including expanding the company’s presence globally. Without a doubt, StandardAero’s greatest asset is its
world-class employee base and we look forward to building upon the strong foundation created by this talented
organization over its 100+ year history. We remain committed to differentiating StandardAero in the marketplace,
by continuing to deliver technology-enabled solutions to support our customers’ most exacting requirements,” said
Ramzi Musallam, Managing Partner of Veritas.
Mr. Musallam continued, “StandardAero is a cornerstone investment of Veritas Capital Fund V and creates a new
strategic platform for Veritas in commercial and military aerospace. We look forward to applying our deep investment
experience within the aerospace market to support the growth of StandardAero.”
DAE Managing Director Khalifa H. AlDaboos added, “Dubai Aerospace Enterprise acquired StandardAero in 2007
and since then, and alongside Russell Ford and his team, we have helped build its market leading position as one of
the world’s largest independent MRO platforms with clients in over 70 countries. Under Veritas’ strong leadership, we
are confident that StandardAero will continue accelerating its growth by leveraging Veritas’ global relationships and
StandardAero is one of the world’s largest independent providers 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. More information can be found on the company’s web site at www.standardaero.com.
About Veritas Capital
Veritas Capital is a leading private equity firm that 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. Veritas seeks to create value by strategically
transforming the companies in which it invests through organic and inorganic means. For more information on
Veritas Capital and its current and past investments, visit www.veritascapital.com.
About Dubai Aerospace Enterprise
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aerospace company specializing in maintenance,
repair and overhaul (MRO) services, aircraft completions and aircraft leasing. The Company is headquartered in
Dubai and operates in four continents and employs approximately 3,500 people. More information can be found on
the company’s web site at www.dubaiaerospace.com.