Aerospace engine after-sales service provider StandardAero has increased the size of its proposed initial public offering (IPO). The company now plans to issue 60 million shares at a price range of $20-$23 per share, aiming to raise $1.3 billion. Initially, StandardAero planned to issue 46 million shares within the same price range.
The company intends to list on the New York Stock Exchange under the ticker symbol "SARO".
StandardAero, acquired by private equity giant Carlyle (CG) in 2019, is a prominent independent provider of after-sales services for aerospace engines. The company offers maintenance, repair, and overhaul (MRO) solutions for both fixed-wing and rotary-wing aircraft in commercial, military, and business aviation sectors.
StandardAero has established long-term partnerships with engine manufacturers and aircraft operators, and it is authorized by original equipment manufacturers such as GE Aerospace (GE), CFM International, and Rolls Royce. The company particularly emphasizes its support for the CFM56 engine, which powers Boeing 737NG and Airbus A320ceo series aircraft.
For the 12 months ending June 30, 2024, StandardAero reported sales of $4.8 billion.
