ITP Aero, a global reference in aerospace propulsion, has signed a binding agreement to acquire Aero Norway, an well known MRO provider specialising in the overhaul and repair of CFM56 engines.
The agreement represents a substantial milestone in ITP Aero’s global growth strategy and reinforces its commitment to expanding its aftermarket services capabilities.
Based in Stavanger, Norway, Aero Norway has established a strong reputation for high-quality CFM56 engine maintenance. It serves a growing international customer base comprising airlines, lessors and asset managers, and operates from a state-of-the-art facility at Sola Airport. The company employs more than 200 highly skilled professionals.
The acquisition aligns with ITP Aero’s strategic focus on strengthening its position in the global aerospace aftermarket, particularly across key large commercial engine platforms. The two businesses bring highly complementary capabilities: Aero Norway’s deep expertise in CFM56 engine overhaul, combined with ITP Aero’s MRO offering, strong engineering base and advanced component repair capabilities, will create powerful synergies and enhance the value and competitiveness of their combined aftermarket services.
This transaction marks the latest step in ITP Aero’s MRO growth strategy following Bain Capital’s acquisition of the company in 2022. It follows the acquisition of BP Aero in the United States in 2023, as well as ITP Aero’s recent selection to join Pratt & Whitney’s GTF MRO network, further expanding its global footprint and capabilities across major engine platforms.
Eva Azoulay, Chief Executive Officer of ITP Aero Group, said: “The signing of this binding acquisition agreement is a key milestone in our strategic roadmap. It reinforces our ambition to become a leading independent player in the aerospace aftermarket. Aero Norway’s expertise and capabilities will be instrumental in delivering exceptional value to our customers as we move forward together.”
Neil Russell, Chief Executive Officer of Aero Norway expressed: “Today’s announcement marks the beginning of an exciting new chapter for Aero Norway. By combining our complementary strengths with those of ITP Aero, we will unlock significant synergies, enhance our competitiveness and deliver even greater value to our customers. We are pleased to join the ITP Aero Group and look forward to driving innovation, technical excellence and long-term growth together in the global aerospace aftermarket.”
The acquisition of Aero Norway is expected to close in the first half of 2026, subject to customary regulatory approvals.
