StandardAero, one of the aerospace industry’s largest independent maintenance, repair and overhaul (MRO) providers, announced this week it plans to acquire PAS Technologies, which manufactures and repairs components for the aerospace, oil and gas, and industrial gas turbine markets. PAS has several locations around the world, including a Hillsboro plant.
In a press release, StandardAero said it plans to align PAS, a privately held company, with its components, helicopters and accessories business to extend engine life-cycle management options.
Highland County Commissioner Shane Wilkin, who has been the local point person working with PAS on expansion projects in recent years, said Friday he expects the StandardAero acquisition to be a positive development.
Wilkin said Mark Greene, general manager of PAS in Hillsboro, has “kept me in the loop on this potentially happening.” He added, “We believe this will be a good thing for Highland County.” Wilkin said it “creates more possibilities for PAS in Hillsboro,” including the potential for more growth and jobs.
PAS Technologies CEO Tom Hutton, who joined the company in 2012 following several years in leadership roles at Pratt & Whitney, was quoted in the press release as saying, “We are looking forward to working together to support and expand partnerships with all of our OEMs and to offer our customers a much broader range of capabilities and services.”
The press release said that PAS is known for leveraging its coating technology for both new and aftermarket components, works engines including the Pratt & Whitney PW4000, F117, F100, F414, V2500, GE F414, LM2500 and CFM56. It operates in Hillsboro, Ohio; Kansas City, Missouri; Phoenix; South Windsor, Connecticut; Singapore and Romania.
StandardAero expects to close the transaction within 60 days, according to the release.
Recently, PAS Hillsboro was awarded a new OEM contract with a major aerospace engine manufacturer. According to a press release in February, as a result of the expanded scope of work the company anticipates bringing on 20 new employees at the Hillsboro facility. The new hiring wave comes on the heels of adding 21 people to its Hillsboro workforce in 2016.
The new contract, expanding the company’s capability to provide specialized, complex machining processes, also could lead to a building expansion which would be the second for the Hillsboro location in recent years, according to the announcement.
Currently, the Hillsboro campus occupies 100,000 square feet, an increase from its previous footprint of 55,000 square feet.
PAS Hillsboro has operated since 1985 and serves customers around the world, offering full OEM build to print, complete FAA return to service certification, and material management and kitting solutions.