Deals
Carlyle Opts Out of Signature Aviation Bid, Buys Repair Unit
- Move clears path for investment group including Bill Gates
- Carlyle-backed StandardAero to buy $230 million Signature unit
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Carlyle Group Inc. is planning to bow out of the bidding for Signature Aviation Plc, opting instead to acquire a unit of the private-jet base operator.
StandardAero Holding Corp., a U.S. aircraft-maintenance firm backed by Carlyle, agreed to buy Signature’s engine repair and overhaul business for $230 million, according to a statement Wednesday. Carlyle isn’t currently planning to bid for the whole company, which accepted an offer earlier this month from a rival investor group including billionaire Bill Gates, people familiar with the matter said.