StandardAero Aviation Holdings and Airbus SE announced that they have entered into exclusive negotiations with respect to an acquisition by StandardAero of Vector Aerospace Holding SAS from Airbus.

Vector is a global aerospace maintenance, repair and overhaul company, providing responsive, quality support for turbine engines, components, fixed- and rotary-wing aircraft. A truly international company, it generated revenues of US$ 704.8 million in 2016 and employs approximately 2,200 people in 22 locations across Canada, the United States, the United Kingdom, France, Kenya, South Africa, Australia and Singapore.

The proposed transaction is subject to workers’ council consultation, signing of definitive agreements and customary approvals, such as regulatory clearances.