The purchase of repair and maintenance services provider StandardAero from New York-based private equity firm Veritas Capital has been completed by US multinational investment company The Carlyle Group.

“StandardAero has established itself as one of the true leaders in the MRO industry,” says Adam J Palmer, managing director and global head of aerospace, defence and government services for The Carlyle Group. “We are excited to partner with the StandardAero team to continue supporting the company's growth and industry leadership.”

StandardAero CEO Russell Ford adds: “Joining The Carlyle Group is a great honour and we look forward to working with this distinguished and experienced ownership team.”

StandardAero has more than 6,000 employees at 38 primary locations and dozens of field services and sales offices across five continents.