Airbus SE (AIR.FR) said Friday that it has completed the sale of its helicopter repair unit Vector Aerospace to StandardAero Aviation Holdings.
The aviation giant said the newly-combined company, which will maintain StandardAero's name, employs more than 6,000 people in 42 locations and has annual revenues of approximately $3 billion.
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StandardAero is owned by Veritas Capital Fund Management, a private equity firm headquartered in New York City.
In 2016, Vector generated revenues of over $700 million and it employs approximately 2,200 people in 22 locations.
Airbus didn't disclose the value of the transaction.
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(END) Dow Jones Newswires
November 03, 2017 13:54 ET (17:54 GMT)