StandardAero to acquire PAS Technologies
StandardAero has announced that it 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.”
“With the addition of PAS, StandardAero will now be a key player with new make manufacturing capabilities along with supporting the entire MRO requirements across the full engine life cycle,” said Rick Stine, president of StandardAero Components, Helicopters & Accessories.
“This is a very strategic fit and we are looking forward to working together to support and expand partnerships with all of our OEMs and to offer our customers a much broader range of capabilities and services,” said Tom Hutton, CEO of PAS Technologies.
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.