Proceeds
The company intends to use net proceeds from the offering mainly to redeem all of its $475.5-million aggregate principal amount of the senior notes outstanding. The remainder of the proceeds will be used for prepaying loans totaling approximately $462 million.
StandardAero is a leading provider of aerospace engine aftermarket services for fixed and rotary wing aircraft, serving the commercial, military, and business aviation end markets. It provides a comprehensive suite of critical, value-added aftermarket solutions, including scheduled and unscheduled engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management, and engineering solutions.
Financials
As of June 2024, the company employed around 7,300 people in its 50 facilities across the world. Meanwhile, the business is subject to headwinds like supply chain delays that impact the availability of parts and engine throughput. The other challenges include a potential reduction in spending by customers and increased costs of labor and raw materials.
For the quarter ended June 2024, the company reported revenues of $1.35 billion, compared to $1.16 billion in the corresponding quarter a year earlier. Net income for the quarter was $5.4 million, compared to a loss of $1.0 million in the same period last year. Adjusted EBITDA increased to $170.4 million in the June quarter from $146.9 million in the prior-year quarter.