MRO & Manufacturing
Greenbriar Equity Acquires West Star Aviation in Strategic MRO Deal
Private equity firm Greenbriar acquires leading MRO provider West Star Aviation to capitalize on $90B+ market growth and aviation digital transformation trends.
The recent acquisition of West Star Aviation by funds managed by Greenbriar Equity Group marks a pivotal moment in the business aviation maintenance, repair, and overhaul (MRO) sector. Announced on May 21, 2025, this deal underscores the growing interest of private equity firms in the aerospace aftermarket, a segment characterized by steady growth, technological evolution, and increasing customer demands.
West Star Aviation, a long-standing and reputable MRO provider, has built a solid foundation since its inception in 1947. Known for its comprehensive service offerings and robust technician network, the company has catered to a diverse clientele, ranging from private jet owners to government entities. The acquisition by Greenbriar, a private equity firm with deep experience in aerospace and transportation investments, is expected to accelerate West Star’s trajectory while preserving its core values of customer service and quality workmanship.
This transaction not only reflects broader consolidation trends in the aviation sector but also highlights the strategic importance of MRO providers in ensuring fleet reliability and operational efficiency. With aircraft utilization on the rise and fleets aging, the demand for high-quality MRO services is more critical than ever.
West Star Aviation has evolved into one of the largest independent MRO providers in the United States. Operating multiple facilities and employing over 700 personnel, the company services hundreds of aircraft annually. Its offerings span airframe maintenance, avionics, interiors, and component, covering all major OEMs. This breadth makes West Star a valuable asset for any investor looking to penetrate or expand in the aviation services space.
Greenbriar Equity Group, founded in 1999 and based in New York, specializes in investments across aerospace, defense, and related industries. Their acquisition of West Star from The Sterling Group aligns with a broader strategy to partner with market-leading companies that are well-positioned for growth. With a history of building scalable platforms, Greenbriar aims to leverage West Star’s operational strengths and customer base to drive further expansion.
According to Noah Blitzer, Managing Director at Greenbriar, The timing of this acquisition is notable. The global aviation MRO market was valued at approximately $90.85 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 4.75% from 2025 to 2030. This growth is driven by increasing air traffic, aging aircraft fleets, and a rising emphasis on operational uptime.
Independent MRO providers like West Star are increasingly gaining market share from OEM-affiliated service centers. Their flexibility, cost-effectiveness, and ability to offer tailored solutions make them attractive to operators seeking efficiency and speed. As fleet operators look for partners that can provide end-to-end services, companies like West Star are positioned to meet these evolving needs. Furthermore, the MRO sector is undergoing a digital transformation. Predictive maintenance, data analytics, and digital twins are changing how maintenance is performed, improving reliability while reducing downtime. Greenbriar’s capital and strategic guidance can help West Star invest in these technologies, enhancing its competitiveness in a rapidly evolving market.
The acquisition of West Star is part of a broader trend of private equity investments in the aerospace aftermarket. Over the past decade, firms have increasingly targeted MRO providers due to their stable cash flows, recurring revenue models, and growth potential. This trend reflects confidence in the resilience and long-term viability of the aviation services sector.
Lisa Chen, Partner at Aviation Consulting Group, noted, From a strategic standpoint, Greenbriar is expected to bring not just financial resources but also operational expertise. Their past success in scaling aviation platforms suggests that West Star could benefit from streamlined processes, expanded geographic reach, and enhanced service offerings.
One of the key strengths of West Star is its skilled workforce and its commitment to quality. With Greenbriar’s backing, there is potential for significant investment in workforce development, training, and certification programs. As the industry faces a growing shortage of qualified technicians, this focus on talent will be essential for sustaining growth.
Additionally, expanding capabilities in avionics, interiors, and mobile repair services positions West Star to respond to niche demands. For example, the company operates the largest nationwide aircraft on ground (AOG) technician network, which ensures rapid response times and minimizes aircraft downtime, a critical factor for business aviation clients.
Investments in tools, facilities, and digital infrastructure can further elevate the company’s service standards, aligning with customer expectations for faster turnaround times and transparent maintenance processes.
As the MRO market becomes more competitive, differentiation through service quality and breadth becomes key. West Star’s reputation for customer service and its ability to handle complex maintenance tasks give it a strong market position. The acquisition could enhance this advantage by enabling the company to scale operations and offer more integrated solutions. For operators, this means access to a more robust and capable service provider. Whether it’s routine maintenance or complex avionics upgrades, customers stand to benefit from improved turnaround times, expanded service locations, and potentially more competitive pricing.
Moreover, as sustainability becomes a growing concern in aviation, MRO providers will play a central role in enabling greener operations through efficient maintenance practices, component recycling, and retrofitting aircraft with fuel-saving technologies.
The future of the aviation MRO industry is one of transformation. Digital tools, artificial intelligence, and automation are reshaping how maintenance is planned and executed. Companies that can integrate these technologies into their workflows will be better positioned to deliver value and remain competitive.
Greenbriar’s acquisition of West Star could serve as a catalyst for such innovation. By injecting capital and strategic direction, the firm has the potential to turn West Star into a next-generation MRO leader. This includes investing in predictive analytics, digital documentation systems, and customer portals that enhance transparency and engagement.
As industry consolidation continues, we may see more deals of this nature, particularly as private equity firms seek to build comprehensive aviation service platforms. The West Star acquisition exemplifies how strategic partnerships can unlock new growth avenues in a mature yet evolving industry.
The acquisition of West Star Aviation by Greenbriar Equity Group is a significant development in the U.S. aviation MRO sector. It underscores the growing role of private equity in shaping the future of aerospace services and highlights the value of independent MRO providers in meeting the complex needs of modern aircraft operators.
Looking ahead, the deal sets the stage for further investment, innovation, and expansion. With a strong foundation, a skilled workforce, and the backing of an experienced investor, West Star is well-positioned to lead in a dynamic and increasingly digital aviation maintenance landscape.
What does West Star Aviation specialize in? Who acquired West Star Aviation? Why is the MRO sector attracting private equity?
Greenbriar Equity Acquires West Star Aviation: A Strategic Move in the Evolving MRO Landscape
Understanding the Acquisition
Background and Strategic Fit
West Star is an exceptional business with comprehensive capabilities and a strong customer value proposition that aligns with Greenbriar’s strategy of partnering with market-leading aviation and aerospace businesses poised for growth.
With their support, we aim to not only accelerate our progress and enhance our capabilities but also ensure that our dedicated employees and the unique needs of our customers remain at the forefront of everything we do.
, Stephen Maiden, CEO of West Star AviationMarket Timing and Industry Trends
Private Equity’s Role in MRO Consolidation
The MRO market is increasingly competitive, and investments from private equity firms like Greenbriar are crucial for companies to invest in new technologies and expand capabilities.
She emphasized West Star’s recent focus on avionics and interiors as a smart move to align with customer preferences for modernization and digital enablement.
Implications for the MRO Industry
Enhancing Capabilities and Workforce Development
Competitive Landscape and Customer Value
Future Outlook and Industry Evolution
Conclusion
FAQ
West Star Aviation provides comprehensive MRO services including airframe maintenance, avionics, interiors, and component repair for business aviation aircraft.
Funds managed by Greenbriar Equity Group acquired West Star from The Sterling Group in a private transaction announced on May 22, 2025.
The MRO sector offers stable cash flows, growth potential, and recurring revenue, making it an attractive investment for private equity firms looking to scale operations and drive innovation.
Sources
Photo Credit: West Star Aviation
MRO & Manufacturing
Aegean Airlines Acquires 45% Stake in Greek MRO Provider Apella
Aegean Airlines acquires 45% of Apella S.A. to expand maintenance services and develop a new technical base in Almyros, Greece.
This article is based on an official press release from Aegean Airlines.
On January 29, 2026, Aegean Airlines announced a significant expansion of its maintenance capabilities through the acquisition of a minority stake in Apella S.A., a specialized Greek aviation maintenance company. Through its subsidiary Olympic Air, the Aegean Group has secured a 45% stake in the firm, aiming to vertically integrate its operations and establish Greece as a stronger regional hub for aviation support services.
According to the company’s official announcement, the investment involves both the purchase of existing shares and a share capital increase. While the specific transaction value remains undisclosed, the deal leaves the majority 55% stake with Dr. Nikos Kontoyannis, who will continue to lead Apella as its CEO. The move represents a strategic effort by Aegean to bring heavy maintenance, aircraft painting, and disassembly services in-house, complementing its existing line maintenance infrastructure.
A central component of this partnership is the development of a new technical base in Almyros, Magnesia. The press release details plans to utilize a privately owned 100,000-square-meter plot near Nea Anchialos National Airport (VOL). This facility is projected to roll out in phases, initially focusing on aircraft parking and disassembly, a critical component of aircraft recycling, before expanding into heavy maintenance and painting services.
Dimitris Gerogiannis, CEO of Aegean Airlines, emphasized the collaborative nature of the deal in a statement regarding the acquisition:
“This investment is a vote of confidence in the potential of Apella and its people… [It aims] to create synergies, facilitate the exchange of know-how, and support the expansion of the AEGEAN Group’s activities in the field of heavy aircraft maintenance.”
This new infrastructure is designed to function alongside Aegean’s “Aircraft Maintenance & Crew Training Center” at Athens International Airport, which opened in early 2024. While the Athens facility handles line maintenance and crew training, the partnership with Apella allows the group to capture industrial-level work, such as painting and recycling, that was previously outsourced or unavailable within the group’s direct control.
Apella S.A. brings decades of specialized experience to the Aegean Group. Founded in 1987 and operating as a certified MRO (Maintenance, Repair, and Overhaul) provider since 1998, Apella is currently the largest provider of wheel and brake repair services in Greece. The company holds EASA Part-145 certification and maintains strategic partnerships with major defense contractors, including Lockheed Martin, for whom it supports the Hellenic Air Force’s F-16 Viper upgrade program.
Dr. Nikos Kontoyannis, CEO of Apella, welcomed the investment as a catalyst for growth: “[The deal creates] prospects for strengthening infrastructure, expanding the range of services provided, and establishing Greece as a regional hub for aviation technical support.”
Data provided in the announcement highlights Apella’s financial standing prior to the acquisition. For the fiscal year 2024, Apella reported:
This acquisition aligns with a broader industry trend where major carriers are increasingly investing in vertical integration to secure their supply chains. By acquiring a stake in an MRO provider capable of heavy maintenance and disassembly, Aegean reduces its reliance on third-party vendors for critical, high-cost services. Furthermore, the inclusion of “disassembly” capabilities suggests a forward-looking approach to sustainability and fleet lifecycle management, allowing the airline to manage end-of-life processes for aircraft more efficiently.
Who is the majority owner of Apella S.A. following the deal? What services will the new Almyros facility provide? Does this replace Aegean’s Athens maintenance center?
Aegean Airlines Acquires 45% Stake in MRO Provider Apella S.A.
Strategic Expansion and New Infrastructure
Operational Synergies and Capabilities
Financial Overview
AirPro News Analysis
Frequently Asked Questions
Dr. Nikos Kontoyannis retains a 55% majority stake and remains the CEO of the company.
The facility is planned to offer aircraft parking, disassembly (recycling), aircraft painting, and heavy maintenance services.
No. The new capabilities complement the existing center at Athens International Airport, which focuses on line maintenance and crew training.
Sources
Photo Credit: Aegean Airlines
MRO & Manufacturing
Avmax Group Acquires Condor Aircraft Accessories to Expand Component Services
Avmax Group acquires Condor Aircraft Accessories to create an Integrated Components Division, enhancing aircraft component repair capabilities in Calgary.
This article is based on an official press release from Avmax Group Inc.
On January 27, 2026, Avmax Group Inc. announced the acquisitions of Condor Aircraft Accessories, a specialized aviation maintenance provider based in Calgary, Alberta. According to the company’s official statement, this transaction will result in the formation of a new “Integrated Components Division,” merging Avmax’s existing component capabilities with Condor’s long-standing expertise in accessory repair and overhaul.
The acquisition represents a strategic move by Avmax to bring specialized “back-shop” maintenance capabilities in-house. By integrating Condor, which has served the industry since 1989, Avmax aims to streamline supply chains for its leased fleet and external MRO customers. The company confirmed that Condor will continue to operate as a division within Avmax, retaining its current operational structure to ensure continuity for existing clients.
Avmax, known globally for aircraft leasing, heavy maintenance, and engineering, stated that this acquisition is designed to fill specific gaps in its internal repair capabilities. While Avmax handles large-scale MRO operations, Condor specializes in the granular repair of Class I, II, and III accessories. These include critical internal components such as actuators, relays, hydraulic pumps, motors, and generators.
In the press release, Avmax leadership emphasized that the deal is an “operational alignment” rather than a simple absorption. Hassan Ghazali, Avmax’s Component Shop Manager, highlighted the practical benefits of combining the two workforces.
“This operational alignment brings together two highly experienced teams, expanding the range of components we’re able to support. By combining our strengths, we’re increasing both capacity and expertise while continuing to deliver the reliability our customers expect.”
, Hassan Ghazali, Component Shop Manager, Avmax
By controlling the repair cycle for these specific components, Avmax anticipates reduced turnaround times and increased efficiency. This vertical integration allows the company to service its own assets more rapidly while offering a broader menu of services to third-party airlines and operators.
Both companies are headquartered in Calgary, Alberta, a factor Avmax cited as a foundation for shared corporate values. Condor Aircraft Accessories has been a fixture in the region’s aviation sector for over three decades, holding Transport Canada Approved Maintenance Organization (AMO) status. Tim McCrady, Business Development Manager at Avmax, noted that the proximity and shared history of the two entities would facilitate a smooth integration. “This partnership reflects a shared belief in doing things the right way, with pride in our work, respect for our people and a long-term commitment to our customers. Together, we are strengthening our technical depth while creating more efficiency and a more integrated component support network.”
, Tim McCrady, Business Development Manager, Avmax
This acquisition aligns with a broader trend in the aviation aftermarket where major lessors and MRO providers are increasingly acquiring niche repair shops. By owning the facility that repairs high-turnover components like pumps and actuators, a lessor like Avmax can significantly lower the maintenance costs of its own fleet. Rather than paying a markup to a third-party vendor, the lessor captures that margin and controls the priority of the repair queue. For the Calgary aviation hub, this consolidation likely signals stability, keeping specialized technical skills within the local market under the umbrella of a larger, globally diversified parent company.
According to the announcement, the transition is effective immediately. Condor will function as a specialized division within the Avmax ecosystem. The company assured stakeholders that day-to-day operations would remain stable, with existing points of contact remaining in place to prevent service disruptions. The new Integrated Components Division will leverage Avmax’s global logistics network to support Condor’s existing client base, potentially expanding the reach of the smaller shop’s services to international markets.
Sources: Avmax Group Inc.
Avmax Group Acquires Condor Aircraft Accessories to Form Integrated Components Division
Strategic Alignment and Expanded Capabilities
Shared Regional Heritage
AirPro News Analysis
Operational Continuity
Photo Credit: Montage
MRO & Manufacturing
AkzoNobel Opens New Aerospace Coatings Facility in Dubai 2026
AkzoNobel Aerospace Coatings will launch a Dubai facility in Q2 2026 to provide local blending and stock for Middle East aviation operators and MROs.
This article is based on an official press release from AkzoNobel Aerospace Coatings.
AkzoNobel Aerospace Coatings has officially announced plans to launch a new color blending and distribution facility in Dubai, United Arab Emirates. According to a press release issued on January 29, 2026, the new site is scheduled to become operational in the second quarter of 2026. The facility is designed to serve as a regional hub, offering locally blended and stocked coating solutions tailored to the specific requirements of commercial aviation operators, Maintenance, Repair, and Overhaul (MRO) organizations, and OEMs across the Middle East.
The expansion aims to reduce lead times and improve efficiency for regional partners by localizing the supply chain. The Dubai facility will feature automated and precision control processes to ensure color accuracy consistent with AkzoNobel’s global standards. Key capabilities will include the local blending of the company’s flagship coating systems, including Aerobase, Aerodur 3001, and Eclipse colors.
The primary objective of the new Dubai site is to provide streamlined access to essential aerospace materials. In addition to on-site color blending, the facility will stock a comprehensive inventory of primers, topcoats, and thinners. By positioning these resources within the region, AkzoNobel intends to support the operational planning of Airlines and MROs, minimizing the downtime associated with waiting for materials to be shipped from Europe or North America.
Xavier Rijmenans, EMEA Sales Director for AkzoNobel Aerospace Coatings, emphasized the importance of this investment for the company’s long-term strategy in the region.
“We work closely with established partners in the Middle East who rely on our trusted solutions. By expanding our color blending and distribution capabilities, we are not only reducing lead times but also strengthening regional support, helping customers to scale their operations and respond to increasing demand in the region.”
Xavier Rijmenans, EMEA Sales Director, AkzoNobel Aerospace Coatings
Rijmenans further noted that this operational model has already been proven effective across Asia, Europe, and North America, suggesting that Middle Eastern customers will see immediate benefits in terms of access to high-quality, locally blended coatings.
The following section contains analysis by AirPro News based on industry data and background research. The timing of AkzoNobel’s expansion aligns with a period of significant growth in the Middle East aviation sector. With major fleet expansions underway, including the aggressive entry of Riyadh Air and continued growth from legacy carriers like Emirates and Qatar Airways, the demand for MRO services is projected to rise sharply. By establishing a local blending facility, AkzoNobel is positioning itself to compete more effectively against rival Manufacturers such as PPG Aerospace and Sherwin-Williams, both of which maintain active footprints in the region.
Furthermore, the specific product focus addresses the unique environmental challenges of the Middle East. The region’s high solar irradiance and prevalence of sandstorms require high-performance coatings capable of resisting erosion and UV degradation. Localizing the production of systems like Aerobase and Aerodur allows AkzoNobel to respond rapidly to the maintenance needs of aircraft subjected to these harsh “desert factor” conditions.
This move also occurs against the backdrop of broader corporate shifts. In November 2025, AkzoNobel and Axalta Coating Systems announced a definitive agreement to merge. While the Dubai facility is an AkzoNobel initiative, it strengthens the company’s infrastructure ahead of the expected transaction close in late 2026 or early 2027.
According to the press release and technical specifications, the new facility will focus on three primary product lines, each serving distinct roles in aircraft maintenance and livery application:
AkzoNobel has invited industry stakeholders to learn more about the new facility at MRO Middle East 2026. The team will be available at Booth 1620 to discuss how local stock availability can assist in reducing turnaround times.
AkzoNobel Aerospace Coatings Announces New Dubai Facility to Strengthen Middle-East Support
Operational Capabilities and Strategic Goals
AirPro News Analysis: Regional Context and Market Dynamics
Technical Focus: Featured Product Lines
Frequently Asked Questions
Sources
Photo Credit: AkzoNobel Aerospace Coatings
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