StandardAero is a maintenance, repair and overhaul (MRO) provider based in Scottsdale, Arizona, US. The company is not related to Standard Aircraft Corporation, which was formed in 1916 and ceased operations in 1931 as New Standard Aircraft Company.

History

1900s

The predecessor to StandardAero was formed in 1911 in the city of

Winnipeg Winnipeg () is the capital and largest city of the province of Manitoba in Canada. It is centred on the confluence of the Red and Assiniboine rivers, near the longitudinal centre of North America. , Winnipeg had a city population of 749,6 ...

, Manitoba, Canada as Standard Machine Works. The company was founded by William S. Bickell and Charles F. Pearce as a small automotive engine repair shop. StandardAero was formed in 1937 as an offshoot of Standard Machine Works and become fully independent in 1940.McManus, J. (1974, July 2). Air Canada Shouldn't Bid for Overhaul Work. Winnipeg Free Press, pp. 13 Standard Machine Works still operates as a separate entity in the west-end neighbourhood of Winnipeg, Manitoba. In 1953, StandardAero had sales of $1 million and 105 employees. The Federal Grain Company of Winnipeg reached an agreement to purchase the shares of Standard Aero Engine Limited for more than $2 million in September 1968. Then Federal Grain Chairman A.S.Leach said the agreement “was the result of Federal Grain’s program to diversity and broaden its economic base…” StandardAero employed about 460 people at the time. Federal Grain sold its grain assets in 1972 and its remaining assets, including StandardAero, were held by its successor Federal Industries Limited. By 1973, under Federal Industries, sales were $19 million and the company had 600 employees. In 1974, the company overhauled piston engines for aeroplanes and turboshaft engines for helicopters. The company had expressed an interest in expanding its services to include jet engines. StandardAero was sold by Federal Industries to the Montreal-based firm Avcorp for $124 million in 1987. In May 1987, Avcorp sold StandardAero’s general aviation distributing business for $20 million to Aviall. Aviall is now owned by

Boeing The Boeing Company () is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and product ...

. StandardAero was sold again two years later in 1989 to the British firm Hawker Siddeley Group plc for $103 million. Hawker Siddeley Group plc broke up in 1992 and various parts of the former company, including StandardAero, were acquired by BTR Industries.

Doughty Hanson & Co Doughty Hanson & Co is a British private equity fund manager focused on leveraged buyout and recapitalization transactions primarily of upper middle-market companies in Europe. The firm also invests opportunistically in European real estate and p ...

purchased

BTR Aerospace Group BTR Aerospace Group was a group of four companies formed in 1985 by BTR plc after the acquisition of the Dunlop Aviation Division from Dunlop Rubber. It comprised Dunlop Aviation Division, Aero Engine Equipment, Dunlop Precision Rubber, and Stand ...

in 1998 and formed a new company known as

Dunlop Standard Aerospace Group Dunlop Standard Aerospace Group Ltd. was formed in 1998 from the assets of BTR Aerospace Group when they were purchased by Doughty Hanson & Co. In 2004 the company was sold and split into two. The Carlyle Group, a private equity firm, acquire ...

2000-2010

In partnership with

Meggitt PLC Parker Meggitt (formerly Meggitt plc) is a British international company specialising in components and sub-systems for the aerospace, defence and selected energy markets. It was listed on the London Stock Exchange and was a constituent of the ...

, global private equity firm

The Carlyle Group The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and pri ...

purchased Dunlop Standard Aerospace Group for approximately $1.4 billion dollars in 2004. Meggitt PLC retained the Dunlop Aerospace Design and Manufacturing division while The Carlyle Group acquired StandardAero. StandardAero was purchased for approximately $670 million dollars. Dubai Aerospace Enterprise (DAE) acquired StandardAero and

Landmark Aviation Landmark Aviation is an aviation services company that offers a wide variety of services at MRO repair centers, at FBOs in the United States and Canada and within its aircraft sales, charter and management business. The company also operates Ass ...

from The Carlyle Group in 2007 for $1.9 billion. Paul Soubry, the current CEO of

New Flyer Industries New Flyer is a Canadian multinational bus manufacturer, specializing in the production of transit buses. New Flyer is owned by the NFI Group, a holding company for several bus manufacturers. New Flyer has several manufacturing facilities in Cana ...

, was appointed as President and Chief Executive Officer of the combined company. Paul Soubry reported directly to Robert Mionis, CEO of DAE Engineering. DAE moved the head office of StandardAero to the Phoenix area shortly after the sale. StandardAero, under DAE Engineering, purchased TSS aviation based in Cincinnati, OH in 2007 for $65 million dollars. TSS aviation was established in 1948 and operated as a component overhaul facility for aerospace and industrial gas turbine engines at the time of its purchase. StandardAero and Landmark were integrated into a single company under the corporate identity of StandardAero in March 2008. The combined company had more than 4000 employees and $1.4 billion per year in sales. Robert Mionis assumed the position of President and CEO of StandardAero, in addition to his role as CEO of DAE Engineering, from Paul Soubry.

2010-present

StandardAero maintains and operates

GE Aviation GE Aviation, a subsidiary of General Electric, is headquartered in Evendale, Ohio, outside Cincinnati. GE Aviation is among the top aircraft engine suppliers, and offers engines for the majority of commercial aircraft. GE Aviation is part of the ...

’s $50 million aircraft engine testing, research and development centre (TRDC) at the James A. Richardson International Airport in Winnipeg, Manitoba. The facility opened in February 2012 and is used to test gas turbine engines up to 150 inches in diameter and up to 150,000 lbs of thrust. Rob Mionis resigned from StandardAero in March 2013 and was replaced by Interim President and CEO Firoz Tarapore. Russell Ford, the current CEO of StandardAero, was appointed in September 2013. New York-based Veritas Capital Fund Management, L.L.C. purchased StandardAero from DAE in 2015 for $2.1 billion. StandardAero had 1,200 employees at its largest site in Winnipeg, Manitoba and 3,400 employees world-wide. StandardAero acquired PAS Technologies in 2017 with the details of the deal not being disclosed. PAS Technologies provides MRO and OEM services in the aerospace, oil and gas, and industrial gas turbine markets, and employed approximately 500 people with annual revenues exceeding $100 million. StandardAero announced that it would close Associated Air Center in September 2017. StandardAero attempted to sell the business but was unsuccessful. StandardAero Aviation Holdings, Inc. acquired Vector Aerospace Holdings SAS from

Airbus SE Airbus SE (; ; ; ) is a European multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: '' ...

in November 2017. Vector was an aerospace MRO company with 2200 employees and revenue of over $700 million in 2016. The combined company has over 6000 employees and annual revenues of over $3 billion. On December 18, 2018, the

aircraft maintenance Aircraft maintenance is the performance of tasks required to ensure the continuing airworthiness of an aircraft or aircraft part, including overhaul, inspection, replacement, defect rectification, and the embodiment of modifications, compliance w ...

provider was purchased by asset management company

from

Veritas Capital Veritas Capital is a New York-based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The ...

for $5 billion, the deal should close in the first quarter of 2019.

Operations

The bulk of Standard Aero's operations are in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

and

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

, but has global facilities as well * Augusta, GA * Calgary, AB * Cincinnati, OH * Hillsboro, OH * Concord, NC * Dallas, TX * Grapevine, TX * Houston, TX * Latrobe, PA * Los Angeles, CA * Maryville, TN * Montreal, QC * Richmond, BC * San Antonio, TX * Scottsdale, AZ * Springfield, IL * Summerside, PEI * Vancouver, BC * Winnipeg, MB * Fleetlands, UK * Richmond, Australia * Singapore * Brisbane, Australia * Sydney, Australia * Gonesse, France * Tilburg, Netherlands * Woensdrecht, Netherlands * Nairobi, Kenya * Johannesburg, South Africa

Executive team

StandardAero's executive team is composed of the traditional officers as well as the president of each of its major business sectors. * Russell Ford –

Chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

* Mike Scott –

Chief financial officer The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financ ...

Kerry O'Sullivan
–

Chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the "C-suite". The COO is usually the second-in-command at the firm, especially if t ...

* Tony Brancato – SVP, Business Integration; President, Associated Air Center * Roger Ross – President, Airlines & Fleets
Rick Stine
– President, Components, Helicopters & Accessories * Marc Drobny President, Business Aviation
Scott Starrett
– President, Military & Energy

References

{{reflist

External links

Standard Aero
Companies based in Scottsdale, Arizona 1911 establishments in Arizona Territory Transport companies established in 1911 American companies established in 1911