ITP Aero has signed a binding agreement to acquire MRO provider Aero Norway, a company that specialises in the overhaul and repair of CFM56 engines.
The agreement is part of ITP Aero's global growth strategy to expand its aftermarket service capabilities.
Aero Norway is based in Stavanger and operates out of a facility at Sola Airport. The company has a workforce of over 200 employees.
The announcement follows ITP Aero's acquisition of BP Aero in the US in 2023 and ITP Aero's recent selection to join Pratt & Whitney's GTF MRO network.
“The signing of this binding acquisition agreement marks a significant milestone in our strategic roadmap,” said ITP Aero Group CEO Eva Azoulay. “This acquisition reinforces our ambition to become a leading independent player in the aerospace aftermarket.”
“By combining the complementary strengths of ITP Aero and Aero Norway, we will unlock significant synergies that enhance our competitiveness and deliver even greater value to our customers,” said Aero Norway CEO Neil Russell.
"We are pleased to join the ITP Aero Group and look forward to working together to drive innovation, technical excellence, and long-term growth in the global aerospace aftermarket.”
The acquisition of Aero Norway is expected to close during the first half of 2026, after obtaining the customary approvals. ITP Aero was advised on legal M&A matters by Baker McKenzie.
ITP Aero was acquired by Bain Capital in 2022. ITP said it has “tripled its earnings” since that year and is implementing its 2030 long-term strategy and business plan.
The company expects to double the size of its business by 2030 and increase its global workforce by 50% through growth in all of its business segments.