Bain Capital will take a minority holding in MRO Holdings, pending closing conditions.
The companies did not reveal the financial terms on July 9 when the deal was announced but said the investment will facilitate the MRO’s continued growth.
Bain Capital “will help further scale our platform and expand our capabilities through a mix of organic and strategic growth initiatives” and customer-centric initiatives, said Roberto Kriete, MRO Holdings’ chairman, in a press statement.
In an interview with Inside MRO in April, Greg Colgan, MRO Holding’s CEO, said the MRO is very focused on operational discipline and consistency. “Investing $1 in throughput right now almost flows straight to the bottom line,” Colgan said.
The company also is investing in common systems, including the SAP S/4HANA Financial Suite, across its four facilities: Aeroman in El Salvador, TechOps MX in Mexico, and Flightstar and North State in the U.S.
Colgan expects the facilities to collectively generate at least 10 million labor hours this year, almost all of which are airframe maintenance hours.
The companies stated that MRO Holdings’ existing management team, led by Colgan, will stay in place, as will its existing investors, the Kriete family and Caoba Capital.
MRO Holdings’ financial and legal advisors are Solomon Partners and Greenberg Traurig, respectively, and Bain Capital’s are A&O Shearman and Griffin Global Management.
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