ITP Aero Signs Binding Deal to Acquire CFM56 MRO Specialist Aero Norway

Overview

• Aero Norway is based in Stavanger with an overhaul facility at Sola Airport, employing more than 200 people and serving airlines, lessors and asset managers worldwide.
• The facility provides full overhaul for CFM56-3, -5B and -7B variants and tests engines up to about 40,000 pounds of thrust, with added hot‑section inspection capability for Leap‑1A and Leap‑1B models.
• ITP Aero says the acquisition expands its commercial engine MRO network and supports a plan to lift aftermarket revenue to 20–25% from roughly 10% over the next five years.
• The deal continues ITP Aero’s aftermarket expansion under Bain Capital, following the 2023 purchase of BP Aero and recent entries into Pratt & Whitney’s GTF and GE Aerospace repair networks.
• Financial terms were not disclosed, and Baker McKenzie advised ITP Aero on legal M&A matters.