StandardAero, Inc. (NYSE: SARO) has announced a secondary offering of 30,000,000 shares of common stock by affiliates of The Carlyle Group Inc. and GIC Private Limited. The selling stockholders will receive all of the net proceeds from this offering, with no shares being sold by the company itself. The underwriters also have an option to purchase up to an additional 4,500,000 shares of common stock.
J.P. Morgan, Morgan Stanley, and RBC Capital Markets are acting as joint lead book-running managers for the proposed offering. The offering will be made through a prospectus, and a registration statement on Form S-1 relating to the proposed offering has been publicly filed with the U.S. Securities and Exchange Commission.
StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed* and rotary-wing aircraft, serving the commercial, military, and business aviation end markets. The company provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management, and engineering solutions. StandardAero is listed on the NYSE under the ticker symbol SARO. As a result of these announcements, the company's shares have moved -0.4% on the market, and are now trading at a price of $28.48. If you want to know more, read the company's complete 8-K report here.
