Home / M&A Activity / Bloomberg: Veritas Capital in Lead to Buy Airbus Maintenance, Repair Business

Bloomberg: Veritas Capital in Lead to Buy Airbus Maintenance, Repair Business

acquisitionNew York City-based private equity firm Veritas Capital has emerged as the leading bidder to purchase Airbus Group’s Vector Aerospace aircraft maintenance and repair business, Bloomberg reported Friday.

 and write Veritas might combine Vector with StandardAero — an aircraft services company the investment firm acquired in July 2015 for $2.1 billion.

Airbus could receive up to $800 million in a sale of the Vector business, according to Bloomberg.

Toronto-based Vector Aerospace carries out maintenance, repair and overhaul work for government agencies, militaries and commercial sector customers worldwide.

Veritas owns U.S. government contractors Alion Science and Technology, KeyPoint Government Solutions and Vencore.

 

Check Also

Northrop Completes JPSS-2 Microwave Instrument Assembly; Bob Mehltretter Quoted

Northrop Grumman (NYSE: NOC) has assembled a microwave instrument for the second Joint Polar Satellite System being built to support weather forecasting and climate monitoring efforts at the National Oceanic and Atmospheric Administration. The company began testing JPSS-2's Advanced Technology Microwave Sounder to determine whether the technology can withstand environmental conditions during liftoff and in space, NASA said Thursday.

Former Kforce, SES Exec Patrick Sullivan Joins Aptive as Digital Services VP

Patrick Sullivan, formerly vice president of emerging technologies at SES, has joined consulting services provider Aptive Resources as VP of digital services, FedHealthIT reported Thursday.