Carlyle Group LP close to purchasing aviation services firm StandardAero from Veritas Capital

The private equity firm is close to acquiring StandardAero for more than $5 billion; once the deal is finalized an announcement is likely to be made as early as later this week.

As per sources familiar with the matter at hand, private equity firm Carlyle Group LP is nearing a deal to purchase StandardAero, an aviation services company from Veritas Capital, another buyout firm, for more than $5 billion, including debt.

The deal, likely to be announced later this week, comes 3 years after Veritas acquired StandardAero from Dubai Aerospace Enterprise Ltd (DAE) for $2.1 billion, including debt.

For StandardAero, this will be the second time it will be under Carlyle’s ownership. Carlyle first acquired StandardAero in 2004. In 2007, DAE acquired StandardAero and Landmark Aviation, an aircraft maintenance services company, from Carlyle, in a deal worth $1.8 billion, including debt. In 2008, DAE sold Landmark Aviation to GTCR LLC and Platform Partners, private equity firms for an undisclosed amount.

Sources have cautioned that there is always the possibility that the deal may not come through; they have also preferred the cover of anonymity since the matter is confidential.

Carlyle declined to comment.

StandardAero and Veritas did not immediately respond to requests for comment.

Headquartered in Scottsdale, Arizona, StandardAero, provides maintenance, repair and overhaul services for all types of airlines including commercial, and military. It also has services for other aspects of the aviation industries.

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