OR WAIT null SECS
StandardAero has entered into a definitive agreement to acquire PAS Technologies, a high technology components provider, to expand its portfolio of industry-leading MRO service offerings. Terms of the transaction were not disclosed.
PAS specializes in providing cost-effective OEM and MRO solutions for the aerospace, oil and gas, and industrial gas turbine markets. By using innovative and proprietary high-technology processes, along with solutions licensed from OEMs, the company provides great value for customers whose components are exposed to high wear, high heat and corrosive environments. The company’s highly engineered, innovative products are known for advanced technology and unsurpassed reliability.
“We are very pleased to announce this strategic acquisition and we welcome all PAS Technologies employees and customers to the StandardAero family,” said Russell Ford, CEO of StandardAero. “PAS will align with our current Components, Helicopters & Accessories business division.”
PAS performs work across a substantial installed base of engines including PW4000, LM2500, F117, F110, F100, F414, V2500, CFM56 and its capabilities include both manufacturing and a full suite of special processes. The company leverages its special coating capabilities for new build and aftermarket components to create a balanced business model between manufacturing and repair services across a diverse range of end markets.
The transaction is expected to close within the next 60 days.