Airbus announced on 3 November that it had divested its holding of Vector Aerospace, confirming that StandardAero Aviation Holdings had acquired the maintenance, repair and overhaul (MRO) provider.
The companies revealed in July that discussions on the sale had begun, which would result in the formation of one of the largest MRO companies in the world.
StandardAero is also an MRO provider and Vector will operate under its trading name. According to the two companies, the combined business will have in excess of 6,000 employees in 42 locations, with annual revenues of USD3 billion. In 2015 StandardAero was purchased by Veritas Capital, a private equity firm headquartered in New York, under a USD2.1 billion deal.
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