According to Reuters, the aircraft leasing firm
According to Reuters, the aircraft leasing firm Dubai Aerospace Enterprise (DAE) is in negotiations with Moelis investment bank to sell its StandardAero aviation services unit for USD$1.8 billion. The auction process is expected to start later this year according to Reuter’s sources. DAE, StandardAero, and Moelis all declined to comment and because the negotiations are not public, the sources asked to remain anonymous.
Dubai Aerospace Enterprises, an international corporation with interests in aircraft leasing, MRO and aviation IT solutions, acquired StandardAero back in 2007 from the buyout firm Carlyle Group. Headquartered in Arizona, StandardAero provides engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions, and paint application services.
This is not the first time that DAE has attempted to sell StandardAero. Back in 2010, Deutsche Bank was hired to help sell StandardAero, but an emergent upturn in the aerospace aftermarket ultimately led to a failed sale. Again in 2013, DAE announced that they were in discussions with BBA Aviation to merge some of their assets including StandardAero, but those talks ended one month later.
Currently, StandardAero offers extensive MRO services and custom solutions for business aviation, commercial aviation, military and industrial power customers in more than 80 nations around the world. They employ more than 4,000 professional, administrative and technical workers in a dozen major facilities in North America, Europe, Asia and Australia, as well as an additional 14 strategically located regional service and support centers.
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