-T / T / +T | Comment(s)

Thursday, August 2, 2007

Dubai Completes Landmark Acquisition

Dubai Aerospace Enterprise (DAE) acquired both Standard Aero and Landmark Aviation for $1.9 billion and will merge the companies as a business enterprise within its DAE Engineering subsidiary. The two MROs will create a global aviation services network of 12 primary facilities in the U.S., Canada, Europe, Singapore and Australia with 14 more regional facilities. CEO Roger Wolfe will resign this month following a two-year tenure in which he led the company through successful FBO acquisitions, major renovations, a corporate re-branding, and other investments in the business. Paul Soubry Jr. will become president and CEO of the combined companies. As part of the acquisition, DAE will divest the Landmark Aviation Airport Services business, which include 33 FBOs, an aircraft sales, charter and management business, and all MRO operation associated with the FBO sites. For related news
blog comments powered by Disqus