StandardAero is boosting its CFM56 engine services portfolio with its latest acquisition. The independent MRO has signed an agreement to purchase PTS Aviation, a boutique asset management company based in Miramar, Florida.

Specialized in CFM56 engine services, PTS supplies serviceable aircraft engines, components and inventory. Its services include engine repairs and inspections, teardowns and used serviceable material (USM) supply programs. It began performing CFM56 teardowns in 2004 and most recently was awarded several contracts by the U.S. Air Force to support its CFM56 engine fleet.

“We are excited to put the PTS Aviation team’s asset management and trading know-how to work for StandardAero,” says Lewis Prebble, president of StandardAero’s airlines and fleets division. “The knowledge and experience they bring to our portfolio will immediately support our preparation to serve global operators, initially focused on the CFM56, and will accelerate our growth plans for the future.”

StandardAero provides CFM56-7B heavy maintenance and overhaul services from its facility in Winnipeg, Manitoba, Canada. It is also an OEM authorized independent MRO provider and GE Designated Fulfillment Center for the engine type.

According to StandardAero, the acquisition will expand its CFM56 engine portfolio of services and accelerate its capabilities to buy, sell and incorporate USM into the CFM56-7B and its wider portfolio of engine platforms. Prebble says StandardAero plans to integrate PTS Aviation’s strategic capabilities into its commercial aviation division. It is not disclosing terms of the transaction.

The acquisition will be StandardAero’s tenth since March 2015. It most recently acquired Signature Aviation’s Engine Repair and Overhaul business in July 2021, which includes Dallas Airmotive, H+S Aviation and International Governor Services.