MRO & Manufacturing
ITP Aero to Acquire Aero Norway, Expanding CFM56 MRO Services
ITP Aero signs agreement to acquire Aero Norway, enhancing aftermarket capabilities for CFM56 engines and expanding its European MRO presence.
ITP Aero, a global leader in aerospace propulsion, has signed a binding agreement to acquire Aero Norway, a specialized maintenance, repair, and overhaul (MRO) provider focused on CFM56 engines. According to the company’s official announcement, the transaction is expected to close during the first half of 2026, subject to customary regulatory approvals.
The acquisition represents a significant expansion of ITP Aero’s aftermarket capabilities. By integrating Aero Norway’s facility in Stavanger, Norway, ITP Aero aims to reinforce its status as a leading independent player in the aerospace services sector. The move follows a trajectory of aggressive growth for the Spanish propulsion company since its acquisition by Bain Capital in 22.
Aero Norway operates out of a facility at Sola Airport in Stavanger, employing a workforce of over 200 skilled technicians. The company has established a reputation for high-quality engine maintenance, specifically for the CFM56 engine family, serving a global client base of airlines, lessors, and asset managers.
In its press statement, ITP Aero highlighted that the two companies possess “highly complementary strengths.” The deal combines Aero Norway’s deep expertise in engine overhaul with ITP Aero’s existing engineering capabilities and component repair infrastructure. This synergy is designed to offer a more comprehensive suite of services to the aftermarket sector.
This agreement is the latest in a series of strategic moves by ITP Aero. In 2023, the company acquired BP Aero in the United States and was recently selected to join Pratt & Whitney’s GTF MRO network. These steps are part of a broader “2030 Strategic Plan” which aims to double the size of the business and increase the global workforce by 50% by the end of the decade.
While the press release focuses on corporate synergies, the acquisition underscores a critical trend in the current aviation landscape: the extended dominance of the CFM56 engine. As new-generation engines like the LEAP and GTF face supply chain delays and durability challenges, airlines are keeping older aircraft powered by CFM56 engines in service longer than originally planned.
Industry data suggests that approximately 20,000 CFM56 engines will remain in service through 2025. Consequently, the demand for maintenance shop visits is projected to peak between 2025 and 2027. By acquiring a specialist shop like Aero Norway, ITP Aero is effectively positioning itself to capture high-value work during this period of “structural undersupply” in the narrowbody market. This “Golden Tail”, the long, profitable tail end of an engine program’s lifecycle, provides a stable revenue runway for MRO providers capable of handling heavy overhauls. The crossover point where new-generation engine shop visits outnumber CFM56 visits is not expected until later in the decade, making capacity for legacy engines a premium asset today.
Leadership from both organizations emphasized the value of combining their respective technical strengths. Eva Azoulay, CEO of ITP Aero Group, described the agreement as a key component of the company’s roadmap.
“The signing of this binding acquisition agreement marks a significant milestone in our strategic roadmap. This acquisition reinforces our ambition to become a leading independent player in the aerospace aftermarket.”
, Eva Azoulay, CEO of ITP Aero Group
Neil Russell, CEO of Aero Norway, noted that the merger would unlock synergies beneficial to their customer base.
“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.”
, Neil Russell, CEO of Aero Norway
ITP Aero reports that it has tripled its earnings since 2022 and is currently implementing a long-term business plan that spans civil, defense, and MRO segments. The company was advised on legal M&A matters regarding this transaction by Baker McKenzie.
Pending regulatory clearance, the integration of Aero Norway into the ITP Aero Group will finalize in 2026, solidifying the company’s footprint in the European MRO market.
Sources:
ITP Aero to Acquire Aero Norway, Strengthening Position in CFM56 Aftermarket
Strategic Expansion in the MRO Sector
AirPro News Analysis: The “Golden Tail” of the CFM56
Executive Commentary
Future Outlook
Photo Credit: ITP Aero