MRO Holdings intends to purchase Aviation Exteriors Louisiana (AvEx) to expand its paint operations to 10 dedicated lines in 2020. The companies did not release the acquisition price.
AvEx paints commercial, corporate and military aircraft in three hangars with 119,100 sq. ft. in New Iberia, Louisiana. Those hangars provide four total lines of paint. Founded in 1990 as Pride Aviation, the business has grown steadily and lists several major U.S. carriers as customers. “The core of the AvEx business is rock solid,” says Greg Colgan, MRO Holdings’ CEO.
MRO Holdings was seeking additional paint capabilities to support its customers. “AvEx accelerates that path and meets the internal demand we currently have and can’t satisfy,” he says.
Colgan says MRO Holdings hopes to complete due diligence within the first half of the year.
MRO Holdings operates three heavy maintenance facilities—Aeroman in El Salvador; Flightstar in Jacksonville, Florida; and TechOps MX in Queretaro, Mexico. It also operates MRO Solutions, a technical solutions company, in El Salvador.
Flightstar is only one with lines of paint (two), however. Aeroman plans to add four, which would bring the total to six. With the acquisition of AvEx and its four paint lines, MRO Holdings would get to 10.
Aviation Week Network’s 2020 Commercial Fleet & MRO forecast pegs the commercial aviation paint market at $485 million this year (Modifications).
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