FTAI Aviation agrees to purchase LMCES

FTAI Aviation announces entry into an agreement to purchase Lockheed Martin (LMT) Commercial Engine Solutions, LMCES, from Lockheed Martin Canada for a purchase price of $170 million. The acquisition is subject to customary regulatory approvals and is anticipated to close in the second half of 2024. This acquisition will further enhance FTAI‘s Maintenance, Repair, and Exchange business, and create permanent engine and module manufacturing capabilities in Canada. “Acquiring Lockheed Martin Commercial Engine Solutions represents a significant milestone for FTAI as we expand our MRE offerings,” said Joe Adams, CEO of FTAI. “We know the facility well and greatly value the team’s technical expertise and commitment to quality. We are excited to grow the shop’s piece-part repair capabilities and continue delivering modules and engines to the aftermarket from a world class facility in Montreal.”