Magnetic MRO, the Estonia-based and China-owned provider of aircraft technical care, has completed the acquisition of Direct Maintenance, an Amsterdam-based independent MRO provider that specialises in line maintenance for narrow- and wide-body aircraft. The deal brings the Airbus A380 and Boeing 787 types to Magnetic MRO group’s existing capabilities, and doubles its global line stations network whilst also allowing the Dutch company to retain its Direct Maintenance branding.
Signed in February 2019, but announced only now, the deal covers the transfer of 100 per cent of Direct Maintenance’s shares from its previous owner Ireland-based Direct Aviation Group, to Magnetic MRO.
With a team of 140 employees, the Dutch MRO provides a range of line maintenance services for narrow- and wide-body aircraft, including Airbus A340, A380 and A350, as well as Boeing 747, 777 and 787 types. The company also supports Embraer 170/190 and MD-11 aircraft types. Direct Maintenance’s network includes eight countries and 11 line stations serving national flag carriers and major leisure airlines from Europe, Middle East, USA, Asia and Africa.
“This acquisition is a part of our strategic development plan. It will allow us to further expand our total technical care programme, as well as synergise Magnetic MRO’s and Direct Maintenance’s efforts in customer support, business development and other areas,” enthuses Risto Mäeots, chief executive of Magnetic MRO.
Last month Estonian company has raised €8 million through a placement of bonds, which it said then to use to acquire an unnamed competitor. Magnetic MRO (formerly Air Maintenance Estonia) was acquired by China’s Guangzhou Hangxin Aviation Technology in early 2018.
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