(Telestock) – StandardAeroaviation services provider StandardAero backed by private equity giant Carlyle Group, has announced the launch of aInitial public offering (IPO) on Wall Street.
The proposed offering consists of 46,500,000 ordinary shares. The range of price is currently valued between $20.00 and $23.00 per share, for a collection up to $1.07 billion. Certain affiliates of The Carlyle Group and GIC intend to grant the underwriters a 30-day option to purchase up to an aggregate of 6,975,000 additional shares of common stock at the offering price.
StandardAero has filed to list its shares on the New York Stock Exchange (NYSE) with the “SARO” symbol.
JPMorgan, Morgan Stanley, BofA, UBS, Jefferies and RBC are acting as lead book running manager.
StandardAero is a leading independent aftermarket service provider for fixed- and rotary-wing aerospace engines, serving the aviation and aviation end markets.commercial, military and corporate aviation. StandardAero provides a complete suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, in-flight and field service support, asset management and engineering solutions.