2010–2020
StandardAero maintains and operates GE Aviation'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.[17]
Rob Mionis resigned from StandardAero in March 2013 and was replaced by Interim President and CEO Firoz Tarapore.[18] Russell Ford, the current CEO of StandardAero, was appointed in September 2013.[19]
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.[20][13]
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.[21]
StandardAero announced that it would close Associated Air Center in September 2017. StandardAero attempted to sell the business but was unsuccessful.[22]
StandardAero Aviation Holdings acquired Vector Aerospace Holdings from Airbus in November 2017. Vector was an aerospace MRO company with 2200 employees and revenue of over $700 million in 2016.[23] The combined company has over 6000 employees and annual revenues of over $3 billion.[2]
On December 18, 2018, the aircraft maintenance provider was purchased by asset management company The Carlyle Group from Veritas Capital for $5 billion, the deal was closed on April 5, 2019.[24]
