StandardAero
| Company type | Public |
|---|---|
| Industry | Aerospace maintenance, repair, and overhaul (MRO) |
| Founded | January 1, 1911 in Winnipeg, Canada |
| Founder | William S. Bickell and Charles F. Pearce |
| Headquarters | Scottsdale, Arizona , United States |
Area served | Worldwide |
Key people | Russell Ford (CEO) |
| Products | Engine support (CFM56, CF34, LM1600, Pratt & Whitney models), airframe, avionics, component maintenance |
Number of employees | 8100+ |
| Parent | The Carlyle Group (as of 2019) |
| Website | standardaero |
StandardAero, Inc. is a U.S.-based provider specializing in maintenance, repair, and overhaul (MRO) services, with its main office located in Scottsdale, Arizona. Founded in 1911 in Winnipeg, Canada, the company serves the aerospace and defense sectors. Its offerings encompass comprehensive engine support for models including CFM56, CF34, LM1600, and multiple Pratt & Whitney variants, alongside airframe, avionics, and component maintenance.
Employing more than 8,100 professionals and generating roughly $4.5 billion in yearly revenue, StandardAero functions through several divisions: Business Aviation, Commercial and General Aviation, Government and Military, Helicopter Programs, Component Repair Services, and Industrial Power. The organization’s strategy emphasizes providing premium MRO solutions worldwide by leveraging strategic leadership to sustain a competitive edge.
StandardAero is listed on the NYSE under the symbol SARO. It boasts a diverse range of products and services that cater to various aerospace industry segments. It should not be confused with the defunct Standard Aircraft Corporation (1916–1931).
1900s
The origins of StandardAero trace back to 1911 in Winnipeg, Manitoba, Canada, where it was initially founded as Standard Machine Works by William S. Bickell and Charles F. Pearce as an automotive engine repair enterprise.
StandardAero emerged in 1937 as a subsidiary of Standard Machine Works and gained full independence by 1940. Meanwhile, Standard Machine Works continues to operate separately in Winnipeg.
By 1953, the company achieved $1 million in sales and employed 105 workers. In 1968, Federal Grain Company acquired Standard Aero Engine Limited for over $2 million as part of its expansion efforts; at that time, the workforce numbered approximately 460.
After Federal Grain divested its grain business in 1972, StandardAero became part of Federal Industries Limited. By 1973, sales had climbed to $19 million with a staff count of 600. The firm specialized in piston and turboshaft engine overhauls while aiming to broaden its jet engine service capabilities.
In 1987, Avcorp of Montreal purchased StandardAero for $124 million but soon sold its general aviation distribution segment to Aviall (now under Boeing) for $20 million. Two years later, in 1989, the British company Hawker Siddeley Group plc acquired StandardAero for $103 million.
Following Hawker Siddeley’s dissolution in 1992, BTR Industries took ownership of parts of the company including StandardAero. Subsequently, in 1998, Doughty Hanson & Co acquired BTR Aerospace Group and established Dunlop Standard Aerospace Group.
2000–2010
In 2004, global private equity firm The Carlyle Group, together with Meggitt PLC, purchased Dunlop Standard Aerospace Group for approximately $1.4 billion. Meggitt retained Dunlop Aerospace Design and Manufacturing while Carlyle acquired StandardAero for around $670 million.
In 2007, DAE bought StandardAero along with Landmark Aviation from Carlyle for $1.9 billion. Paul Soubry—currently CEO of New Flyer Industries—was named president and CEO of the merged entity, reporting to DAE Engineering’s CEO Robert Mionis. Shortly thereafter, DAE relocated StandardAero’s headquarters to the Phoenix metropolitan area.
Also during 2007, StandardAero expanded by acquiring TSS Aviation, a Cincinnati-based component overhaul company, for $65 million. In March 2008, StandardAero merged with Landmark Aviation under the StandardAero brand name; this consolidation resulted in a workforce exceeding 4,000 employees and annual revenues totaling $1.4 billion. Robert Mionis assumed the role of President and CEO of StandardAero while retaining his position as CEO of DAE Engineering.
2010–2020
StandardAero manages the $50 million aircraft engine testing and research facility for GE Aviation located at Winnipeg's James A. Richardson International Airport. This centre, inaugurated in 2012, is equipped to evaluate gas turbine engines with diameters reaching 150 inches and thrust capacities up to 150,000 pounds.
In March 2013, Robert Mionis stepped down as CEO, with Firoz Tarapore assuming the role of interim chief executive. Russell Ford was appointed to the CEO position in September of the same year.
The year 2015 saw New York-based Veritas Capital acquire StandardAero from DAE for $2.1 billion. At that time, the company had a global workforce of approximately 3,400 employees, including around 1,200 based at the Winnipeg location.
StandardAero broadened its portfolio in 2017 by acquiring PAS Technologies, a firm specializing in MRO and OEM services for aerospace, oil and gas, and industrial gas turbines. PAS employed over 500 staff members and generated revenues exceeding $100 million.
During the same year, StandardAero discontinued operations at Associated Air Center following unsuccessful attempts to divest the business.
Additionally, in 2017, StandardAero Aviation Holdings completed the acquisition of Vector Aerospace Holdings SAS from Airbus SE. Vector was an aerospace MRO enterprise employing roughly 2,200 individuals and reporting revenues above $700 million in 2016. This merger resulted in a combined workforce exceeding 6,000 employees and annual revenues surpassing $3 billion.
On December 18, 2018, asset management company The Carlyle Group reached an agreement to purchase StandardAero from Veritas Capital for $5 billion; this deal was finalized on April 5, 2019.
Since 2020
StandardAero was chosen by Sikorsky to undertake the final assembly of S-70 (H-60 Blackhawk) helicopters in England, conditional upon Sikorsky securing the U.K.'s New Medium Helicopter program contract.
Boom Supersonic selected StandardAero to manufacture the Symphony engine intended for its forthcoming Overture supersonic aircraft.
In October 2024, StandardAero successfully completed its initial public offering and was subsequently listed on the New York Stock Exchange, achieving a market valuation of $10.4 billion.
See also
- Doug Finley, former President of StandardAero and Canadian Senator
- Paul Soubry, former President and CEO of StandardAero; current CEO of New Flyer Industries