Dubai Aerospace Enterprise acquires Standard Aero and Aviation from Carlyle Group (tags)
Dubai Aerospace Enterprise (DAE) is part of an integrated aerospace cluster that is being assembled at Dubai World Central – the new 140 square kilometer airport and logistics city being constructed at Jebel Ali, Dubai, in the United Arab Emirates. The firm is made up of 6 divisions – DAE Airports, DAE Capital, DAE Engineering, DAE Manufacturing, DAE Services, and DAE University. Dubai has long since taken over from Lebanon as the business and financial center of the Middle East, however, and DAW sees growing regional and global opportunities in the Maintenance, Repair and Overhaul (MRO) business. Which may explain the formal completion of DAE's $1.9 billion acquisition of aviation service providers Standard Aero and Landmark Aviation from The Carlyle Group… The operations of Landmark Aviation Airport Services and the sale process will be overseen by an independent board of trustees made up of former Secretary of Defense James Schlesinger, former Senator Bob Kerrey and former Pentagon Comptroller Dov Zakheim. The sale process will be conducted by Merrill Lynch.