New York City-based private equity firm Veritas Capital has emerged as the leading bidder to purchase Airbus Group’s Vector Aerospace aircraft maintenance and repair business, Bloomberg reported Friday.
Kiel Porter and Scott Deveau write Veritas might combine Vector with StandardAero — an aircraft services company the investment firm acquired in July 2015 for $2.1 billion.
Airbus could receive up to $800 million in a sale of the Vector business, according to Bloomberg.
Toronto-based Vector Aerospace carries out maintenance, repair and overhaul work for government agencies, militaries and commercial sector customers worldwide.
Veritas owns U.S. government contractors Alion Science and Technology, KeyPoint Government Solutions and Vencore.
