With backing from Carlyle Group Inc and support from celebrity cornerstone investors, aviation engine maintenance company StandardAero (SARO.US) announced its IPO pricing at $20-23 per share.

Aircraft engine aftermarket service provider StandardAero announced the terms of its IPO on Monday. The company plans to issue 46.5 million shares of stock at a price of $20 to $23 per share, raising $1 billion. Cornerstone investors Blackrock, Janus Henderson, and the Central Bank of Norway plan to purchase $275 million worth of shares in the IPO (27.5% of the transaction). At the midpoint of the proposed range, StandardAero's fully diluted market value will reach $7.1 billion. Acquired by Carlyle in 2019, StandardAero is a leading independent provider of aftermarket services for the aviation engine market, offering maintenance, repairs, and overhaul solutions for fixed-wing and rotor aircraft in the commercial, military, and business aviation sectors. The company has long-standing partnerships with engine manufacturers and aircraft operators, holding authorizations from original equipment manufacturers such as GE Aviation, CFM International, and Rolls-Royce. StandardAero's services include scheduled and unscheduled engine maintenance, component repairs, wing support, asset management, and engineering solutions. The company emphasizes its support for the CFM56 engine, which powers Boeing 737NG and Airbus A320ceo series aircraft. As of June 30, 2024, the company's 12-month sales were $4.8 billion. StandardAero plans to list on the New York Stock Exchange under the ticker symbol SARO. Joint bookrunners for this transaction include J.P. Morgan, Morgan Stanley, BofA Securities, UBS Investment Bank, Jefferies, RBC Capital Markets, Carlyle, CIBC World Markets, HSBC, Mizuho Securities, French Industrial Bank, and Nomura Securities. Joint managers include Citizens JMP, Macquarie Capital, Santander Bank, Amerivet Securities, and Drexel Hamilton. The company expects to price the offering during the week of September 30, 2024.