Marana Aerospace Solutions (MAS) and Ascent Aviation Services ("Ascent") have announced a definitive merger agreement to create one of the leading aircraft MRO for both wide body and narrow body aircraft in North America. The combined company will provide maintenance, flight line, storage, and reclamation services out of two facilities that spans more than 1,250 acres and includes five hangars.
Located in Tucson International Airport, Ascent has long been recognized for its excellence in servicing narrow-bodied aircraft. MAS, with facilities located 35 miles from Ascent, is a Class 4 repair station, approved to service the largest commercial aircraft in the world.
The close proximity of the facilities and deep pool of high-quality technicians will optimize staffing capabilities and project planning which will result in an expanded service offering, increased productivity, quicker turnaround times and greater customer satisfaction.
David Querio, President and former President of Ascent from 2009 to 2013, said, "Combining Marana and Ascent means that customers can procure all of their maintenance, storage, and end-of-life services with one partner while utilizing a single customer representative, rather than requiring three or four different facilities. Beyond the obvious cost synergies, there are exciting new growth opportunities for us. The companies share similar values and approaches and we plan to leverage that to become the premier choice for our customers."
Matthew Ray, CEO and former Chairman and CEO of Ascent, added, "This combination is highly synergistic, creating a flexible business model that will maximize each company's human capital, technical capabilities and footprint while capturing immediate cost savings and driving significant value creation for both companies. We are creating a new kind of industry leader." Ray co-founded Victory Park Capital, where he served as Senior Partner from 2007 to 2015.
In addition to Ray and Querio, leadership includes Jack Keating, Ascent's Chief Commercial Officer and General Manager, and Randy Buol, Marana's Vice President of Operations.
In addition to approval from the United States Federal Aviation Administration (FAA), the combined company will maintain approvals and certifications from regulatory authorities globally, including the European Aviation Safety Agency (EASA) and the aviation agencies of Bermuda (BDA/AMO), Brazil (ANAC), Canada (TCCA), Mexico (DGAC), and Nigeria (NCAA), among others.