StandardAero Inc.

What does StandardAero own?
StandardAero operates as a single-brand company with two service divisions: Engine Services and Component Repair Services. The company also owns Aero Turbine, an engine testing and MRO services provider for military engines acquired in August 2024. StandardAero does not operate a portfolio of distinct consumer brands but focuses on MRO services across commercial, business, and military aviation platforms.

Is StandardAero publicly traded?
Yes. StandardAero completed its IPO on October 2, 2024, listing on the New York Stock Exchange under ticker SARO. The offering raised $1.44 billion at $24 per share, valuing the company at approximately $10.4 billion. Shares opened 29% above the offer price in their debut. StandardAero is a component of the S&P 400 MidCap index.

Who founded StandardAero?
William S. Bickell and Charles F. Pearce founded StandardAero's predecessor, Standard Machine Works, in 1911 in Winnipeg, Manitoba, Canada. The company began as an automotive engine repair shop and evolved into an aircraft engine MRO provider over the following decades. The Winnipeg facility remains one of StandardAero's largest operations, employing over 1,200 people.

Where is StandardAero based?
StandardAero is headquartered in Scottsdale, Arizona, USA. The company operates 49 primary facilities across 10 countries, including the United States, Canada, United Kingdom, Australia, Romania, Brazil, and France. Its largest single facility remains in Winnipeg, Manitoba, Canada, where the company was originally founded in 1911.

How much revenue does StandardAero generate?
StandardAero reported revenue of $6.06 billion in fiscal 2025, a 15.8% increase from $5.24 billion in fiscal 2024. Net income was $277.4 million in fiscal 2025, up from $11.0 million in fiscal 2024. The company generated $209 million in free cash flow and reduced its net debt to adjusted EBITDA leverage ratio to 2.4x as of December 31, 2025.

Who owns StandardAero?
The Carlyle Group is the majority shareholder of StandardAero following the October 2024 IPO. Carlyle acquired StandardAero from Veritas Capital in December 2018 for $5 billion and took the company public in October 2024. Carlyle sold some shares in the IPO but retained majority control. Singapore's sovereign wealth fund GIC also retained a stake as a pre-IPO investor.

Has StandardAero changed ownership?
Yes. StandardAero has changed ownership multiple times. Carlyle Group first acquired it in 2004 for approximately $670 million, then sold to Dubai Aerospace Enterprise in 2007. Veritas Capital purchased it from DAE in 2015 for $2.1 billion. Carlyle repurchased it from Veritas in 2018 for $5 billion. In October 2024, StandardAero went public on the NYSE, with Carlyle remaining as majority shareholder.

What is StandardAero's market position?
StandardAero is one of the world's largest independent providers of aerospace engine MRO services. The company generated $6.06 billion in revenue in fiscal 2025 and operates 49 facilities across 10 countries. It competes with OEM-affiliated MRO operations and other independent providers. StandardAero differentiates itself as a pure-play MRO provider without OEM manufacturing conflicts, holding authorizations from GE, Pratt and Whitney, Rolls-Royce, and Honeywell.

StandardAero's predecessor was formed in 1911 in Winnipeg, Manitoba, Canada, as Standard Machine Works. William S. Bickell and Charles F. Pearce founded the business as a small automotive engine repair shop. Over the following decades, the company expanded into aircraft engine repair and overhaul, reflecting Winnipeg's growing role as a Canadian aviation hub.

The company evolved through multiple ownership changes. In 2004, The Carlyle Group partnered with Meggitt PLC to purchase the Dunlop Standard Aerospace Group for approximately $1.4 billion. Meggitt retained the Dunlop Aerospace Design and Manufacturing division, while Carlyle acquired StandardAero for approximately $670 million. This transaction marked StandardAero's entry into the large-scale MRO market under private equity ownership.

In 2007, Dubai Aerospace Enterprise (DAE) acquired StandardAero from Carlyle. DAE invested in expanding the company's capabilities and geographic reach. DAE later decided to divest non-core assets, and in 2015, Veritas Capital purchased StandardAero from DAE for $2.1 billion. At the time of the Veritas acquisition, StandardAero had 1,200 employees at its Winnipeg facility and 3,400 employees worldwide.

In December 2018, Carlyle returned as owner, purchasing StandardAero from Veritas Capital for $5 billion. The deal closed in April 2019. Under Carlyle's second ownership period, StandardAero pursued aggressive growth, expanding its engine service capabilities and acquiring complementary businesses.

In August 2024, StandardAero acquired Aero Turbine, a provider of engine testing and MRO services, expanding its military engine capabilities. The acquisition contributed $64.5 million in incremental revenue in fiscal 2025.

On October 2, 2024, StandardAero completed its IPO on the New York Stock Exchange. The offering raised $1.44 billion at $24 per share, valuing the company at approximately $10.4 billion. Shares opened 29% above the offer price in their NYSE debut. The IPO was the third largest US initial public offering of 2024. Net primary proceeds of $1.2 billion were used to pay down debt. The company refinanced its capital structure with a new term loan and revolving credit facility, expected to generate over $130 million in annual interest savings.

For fiscal 2025, StandardAero reported revenue of $6.06 billion, a 15.8% increase from $5.24 billion in fiscal 2024. Net income was $277.4 million, a significant improvement from $11.0 million in fiscal 2024. The company generated $209 million in free cash flow and reduced its net debt to adjusted EBITDA leverage ratio to 2.4x as of December 31, 2025.

StandardAero addresses sustainability through engine maintenance practices that extend operational life and improve fuel efficiency. Well-maintained engines consume less fuel and produce fewer emissions than poorly maintained ones. By keeping engines in optimal condition, MRO services indirectly support aviation sustainability.

The company does not publish a standalone sustainability report as of August 2026. StandardAero is not a certified B Corporation. Following its IPO, the company has begun providing expanded ESG disclosures in its SEC filings, but detailed Scope 1, 2, or 3 emissions reporting has not been published.

StandardAero's role in supporting military engine programs, including the AE 1107 engine for the V-22 Osprey and T56 engines for military transport aircraft, connects the company to defense sector activity. The temporary grounding of the V-22 Osprey platform in 2024 affected volumes on the AE 1107 engine program, demonstrating the company's exposure to military platform operational decisions.

• S&P 400 Component: StandardAero was added to the S&P 400 MidCap index following its IPO, reflecting its market capitalization and public float.
• Third largest US IPO of 2024: StandardAero's $1.44 billion initial public offering was the third largest in the United States in 2024, according to Reuters.
• OEM authorizations: StandardAero holds authorized service provider status from GE Aviation, Pratt and Whitney, Rolls-Royce, and Honeywell Aerospace.

StandardAero has not been subject to specific product recalls or major regulatory enforcement actions publicly reported as of August 2026. The company operates under FAA, EASA, and other aviation regulatory authority certifications, which require ongoing compliance with maintenance standards.

The company's exposure to military platforms has created some revenue volatility. The temporary grounding of the V-22 Osprey platform in 2024 reduced volumes on the AE 1107 engine program that powers the aircraft. This was an operational issue rather than a controversy related to StandardAero's maintenance practices.

As a Carlyle Group portfolio company that went public, StandardAero's IPO attracted scrutiny of its financial structure. The company had significant debt at the time of the IPO, with a net debt to adjusted EBITDA leverage ratio of 3.1x as of December 31, 2024. The IPO proceeds were used to pay down debt, and the leverage ratio improved to 2.4x by December 31, 2025.