FTAI Aviation completes acquisition of Lockheed Martin Commercial Engine Solutions

On September 9, 2024, FTAI Aviation Ltd. completed its previously announced agreement to purchase the Commercial Engine Solutions business of Lockheed Martin at the Montréal airport, for US$170 million. The completion of the acquisition was subject to satisfactory customary regulatory approvals.

The acquisition further enhances FTAI’s Maintenance, Repair, and Exchange (MRE) business, and creates permanent engine and module manufacturing capabilities in Canada. FTAI will continue to expand its module customer base, which currently includes over 50 airlines and lessors globally. Additionally, FTAI expects to establish a center of excellence in Montréal for piece-part repairs, serving both its own operations, including the Used Serviceable Material business, and third-party customers.

McMillan acted as lead counsel to FTAI with a team led by François Tougas and included Enda Wong and David Zhang (Business Law and M&A); Julia Loney, Beth Riley, Tayler Farrell, William Wu, James Musgrove (Regulatory);Kyle Lambert, Mireille Germain and Miguel Therrien (Employment & Labour); Sonia Rainville and Nicholas Yanakis (Commercial Real Estate); Martin Thiboutot (Environment); Jamie Wilks, Steven Sitcoff and Michael Friedman (Tax); and Pablo Tseng (Intellectual Property).

Deal Type

Merger & Acquisition

Industry

Infrastructure

Transaction

$ 230,343,200

Deal Status

Closed

Closing Date

09 September 2024