Airbus finalises the sale of Vector Aerospace to StandardAero |
| Léo Barnier |
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15 NOV 2017 | 374 words
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A GE T700 engine on a test-bed. Picture © Vector Aerospace |
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It's now official: Vector Aerospace is no longer under the Airbus umbrella. The sale of the Canadian MRO company to the American StandardAero Aviation Holdings was finalised on 3rd November. The amount of the transaction has not been announced. Vector Aerospace will be integrated by its purchaser to form a single entity, which will bear the name StandardAero.
According to the small amount of information shared by the different parties, the acquisition was made directly by StandardAero, and not by the New York investment fund Veritas Capital. This fund has owned StandardAero since it bought it over in 2015.
Vector Aerospace is organised around regional branches in Canada, the United Kingdom, France, the United States, Kenya, South Africa, Australia and Singapore. The company employs 2,200 people in 22 sites across these countries and generated $700 M in turnover in 2016. Its integration into StandardAero will enable the creation of a group with 6,000 employees across 42 sites around the world, with potential turnover of $3 Bn.
StandardAero is located in the United States, of course, as well as in Canada, Australia, Singapore and the Netherlands. Vector Aerospace will therefore provide it with a presence in France, the United Kingdom and several countries in Africa. However, a certain amount of duplication may arise in the countries where both entities are present.
It is therefore reasonable to think that consolidations and synergies may be put in place. But before it gets there, the new group will have to reorganise itself around a common architecture. In fact, Vector Aerospace is based around geographic centres, while StandardAero is structured as branches of activity: business aviation, general and commercial and government and military aviation, helicopters, components and industrial energy services.
In any case, Russell Ford, CEO of StandardAero is delighted that the deal has been finalised: "We are excited to join forces with the Vector team in becoming one of the largest MRO companies in the world. Our combined organizations are better positioned to provide the industry with more global services, expanded MRO capabilities and operational benefits to deliver faster, higher quality solutions to our combined customers worldwide. We look forward to joining together with the Vector leadership and employees as we begin to integrate our two organizations. "
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Léo Barnier
Specialized journalist
Industry & Technology, Equipments, MRO
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