Press Release List

Monday, September 24, 2007

Standard Aero Acquires TSS Aviation for $65 Million

NBAA, Atlanta — Standard Aero, a Dubai Aerospace Enterprise (DAE) Engineering company, today announced that it has acquired TSS Aviation Inc. for $65 million.

“TSS Aviation Inc. is a turbine engine component repair facility and OEM authorized to repair engine parts for all major aircraft engine original equipment manufacturers (OEM),” said Paul Soubry, Standard Aero President and Chief Executive Officer.

“Not only does TSS Aviation increase the Standard Aero component repair – but it also brings significant new technology and capability to the DAE repair portfolio. We gain extensive new capabilities, along with exceptional quality and an on-time delivery record, all of which make this a tremendous strategic fit for both Standard Aero and Landmark Aviation,” he added.

TSS is a full service component overhaul facility, providing mid to large aerospace and industrial gas turbine engine repairs for OEMs and airlines. Fully aligned with the OEMs, TSS holds authorizations for several engines, offering rapid repair development and advanced composite and electron beam welding repair technologies.

Scott Nichols will continue to lead the business as Vice President of TSS Aviation.

“With a significant growth rate year over year, we see excellent opportunities to continue growing,” Nichols said. “Now, as part of Standard Aero and the DAE organization, TSS will have access to new customers and products.”

Located in Cincinnati, TSS Aviation was established in 1948 and offers specialty repair processes, including heat treat, metal spray, non-destructive test, welding and advanced composite repairs. Standard Aero purchased TSS Aviation from TSS Technologies, which continues as a family owned and operated company.

TSS Aviation also offers repair development engineering for the design and implementation of new repairs. With about 225 employees, the company occupies a 135,000 square foot facility.




Standard Aero and Landmark Aviation, Dubai Aerospace Enterprise (DAE) Engineering companies with $1.3 billion in combined annual revenue, specialize in engine maintenance, repair and overhaul, and nose-to-tail services that include airframe, interior refurbishments and paint for business and general aviation, air transport, and military aircraft. Associated Air Center produces luxury and VIP interiors for transport size aircraft. The companies, part of the DAE Engineering division, form a global services network of 12 primary facilities in the U.S., Canada, Europe, Singapore and Australia, with an additional 14 regionally located service and support locations.

DAE is a fast developing global aerospace, manufacturing and services corporation made up of six divisions – Airports, Capital, Engineering, Manufacturing, Services and University.

Headquartered in Dubai, the group is growing through a series of phased developments and acquisitions to become a global player and to produce an integrated aerospace cluster, based at Dubai World Central – the new 140 square kilometer airport and logistics city. It is forming international partnerships at the highest level of industry with the aim of establishing one of the most innovative and successful businesses in the global aerospace industry within the next decade.

DAE’s shareholders include EMAAR, ISTITHMAR, Dubai Airport Free Zone Authority (DAFZA), Dubai International Capital, DIFC Investments LLC, the Government of Dubai and AMLAK Finance.