Marana Aerospace Solutions, a portfolio company of Monroe Capital and an Arizona aviation maintenance, repair and overhaul service provider — known as an MRO — has acquired Ascent Aviation Services, another aviation MRO service provider, from LongueVue Capital Partners. The purchase will create one of the leading aircraft MROs for both wide body and narrow body aircraft in North America.
The combination of both companies will provide maintenance, flight line services, storage and reclamation assistance out of two separate Arizona facilities that span more than 1,250 acres and include the use of five hangars.
MROs such as Marana Aerospace Solutions are used to ensure that commercial aircraft are well maintained and meet safety requirements in both the transportation of passengers and cargo, as outlined by the Federal Aviation Administration. Marana said the acquisition will provide it the opportunity to gain a larger share of the market.
“Combining Marana and Ascent means that customers can procure all of their maintenance, storage and end-of-life services with one partner while utilizing a single customer representative, rather than requiring three or four different facilities,” Marana president David Querio said in a press release. “Beyond the obvious cost synergies, there are exciting new growth opportunities for us. The companies share similar values and approaches, and we plan to leverage that to become the premier choice for our customers.”