Lufthansa Technik has acquired a majority stake in US based ETP Thermal Dynamics, expanding its aircraft component services portfolio in the Americas.
Through its US holding company - Lufthansa Technik North America Holding Corp - Lufthansa Technik purchased 80% of the shares in ETP Thermal Dynamics from Campbell Holdings Group.
“The acquisition of ETP represents an important step in Lufthansa Technik's strategic growth and the expansion of its capabilities in the aircraft component services in the region,” said Michael Scheferhoff, managing director at Lufthansa Technik Component Services.
He continued: “With this partnership, Lufthansa Technik can enhance its market presence and reinforces its position as a globally leading MRO provider.”
Lufthansa Technik has appointed Kenny Walling - director of production and Engineering at Lufthansa Technik Component Services - to also assume the role as CEO of ETP Thermal Dynamics. The proximity of ETP’s facilities to Lufthansa Technik Component Services in Tulsa, Oklahoma further facilitates post-acquisition activities and integration.
The acquisition of ETP will also enable Lufthansa Technik to enhance its heat exchanger capacity within its network and further strengthen its supply chain security.
Lufthansa Technik acquires majority stake in ETP Thermal Dynamics
