01/20/2020 | Press release | Distributed by Public on 01/20/2020 18:08
SCOTTSDALE, Ariz. - January 20, 2020 - StandardAero has acquired TRS Global Services subsidiary, TRS Ireland, a highly specialized provider of component repair and manufacturing processes for a large range of industrial, aeroderivative and aircraft gas turbines. The acquisition will continue to expand StandardAero's Components, Helicopters & Accessories (CH&A) division and its worldwide portfolio of MRO and component repair services.
TRS Ireland is a privately held company operating from Cork, Ireland, with nearly 70,000 square feet of MRO operations and more than 100 employees. The company has a large installed base of current customers that includes Siemens, GE, Rolls-Royce, MTU, Safran, ITC, Doncasters and many others.
TRS Ireland has extensive experience as an OEM-approved specialty coating provider of engine component repair and MRO services on blades, vanes and other hot section components for both new engines and a rising number of mature engines and a variety of applications. The company, which has more than 180 OEM approvals/licenses and unique FAA and EASA certifications, is also known as a trusted partner supporting gas turbine users worldwide with customized services, outstanding quality, cost-effective pricing and fast turn times.
'TRS Ireland has a long-standing, hard-earned reputation in the industry as a reliable service partner and will bring immediate growth and opportunity for StandardAero,' said Russell Ford, Chairman & CEO of StandardAero. 'The company has also been extremely successful in implementing lean manufacturing initiatives to drive efficiency, which is very much in line with StandardAero's operating model.'
'TRS Ireland's robust and long-tenured engineering and development team has extensive intellectual property around turbine airfoil and coating technologies and we see significant opportunities to leverage these capabilities and capacity to the fast growing aerospace and aeroderivative turbine engine repair markets,' added Rick Stine, President of StandardAero's CH&A Division.
With the addition of TRS Ireland, StandardAero now has 40 primary repair facilities located on five continents with more than 6,400 employees worldwide.
StandardAero is one of the world's largest independent providers of services including engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions and paint applications. StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components and energy markets. StandardAero is owned by The Carlyle Group (NASDAQ: CG), a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle's purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. For more information, go to www.standardaero.com.