Veritas Capital Closes $2.1B StandardAero Buy; Ramzi Musallam Comments

turbine-aircraftDubai Aerospace Enterprise has completed the sale of StandardAero to private equity firm Veritas Capital for $2.1 billion.

StandardAero operates 13 facilities across the U.S., Europe, Canada, Australia and Singapore that offer aircraft repair, maintenance and overhaul services to clients in the commercial, military aviation and industrial power sectors, Veritas Capital said Wednesday.

Ramzi Musallam, managing partner at Veritas Capital,  said the company will work with StandardAero CEO Russell Ford to help expand StandardAero’s presence in the aviation MRO market.

The companies initially announced the transaction May 26.

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