Spanish engine OEM and maintenance provider ITP Aero is narrowing its focus to commercial and defense engines following the sale of its subsidiary AeroMaritime Mediterranean to Montreal-based Essential Turbines.
AeroMaritime is a Malta-based aerospace MRO focused on the Rolls-Royce M250 and RR300 engines for the helicopter and general aviation markets.
“We are deeply committed to delivering unparalleled value for our customers, partners, suppliers, shareholders and employees as a higher-growth, higher-margin, pure-play engine company and, in this regard, we are fully determined to continue to build a dedicated platform to support the global commercial aviation aftermarket,” said Alan Jones, executive vice president of MRO at ITP Aero, adding: “This decision reaffirms our commitment to simplify our business to focus on larger commercial and defense engines.”
ITP Aero, now majority owned by Bain Capital since its sale by Rolls-Royce in 2022, reported record revenues of €1.61 billion ($1.92 billion) in 2024, 24% higher than the year earlier.
This was driven by strong demand for commercial aero-engine production and maintenance, which accounted for about 75% of the company’s business last year.
Sales included a 15% rise in deliveries of Trent engine parts to former owner Rolls-Royce, while ITP also supported future production by inaugurating a new casting manufacturing and logistics facility at its Queretaro site in Mexico.
The company also expanded in the aftermarket with its first MRO acquisition, of BP Aero in Texas. BP Aero provides engine hospital visit, teardown and parts overhaul services, among others.
ITP said this is one of several strategic investments it is making as part of advancing its overall MRO capabilities and global reach.
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