MRO & Manufacturing
AxioAero Group Expands MRO Services with Airway Aerospace Acquisition
AxioAero Group, backed by CORE Industrial Partners, acquires Airway Aerospace to integrate parts distribution and repair services in aerospace MRO.
This article is based on an official press release from CORE Industrial Partners.
AxioAero Group, a portfolio company of the private equity firm CORE Industrial Partners, has officially announced the Acquisitions of Airway Aerospace LLC. The transaction, announced on January 7, 2026, marks a significant expansion for the Florida-based aerospace platform as it seeks to vertically integrate aftermarket services.
This acquisition represents the second major investment for the AxioAero platform. It follows the January 2024 purchase of Aviation Concepts, LLC, a distributor of mission-critical aircraft parts. By acquiring Airway Aerospace, AxioAero aims to combine parts distribution with specialized maintenance, repair, and overhaul (MRO) capabilities, creating a more robust service offering for commercial and military aviation clients.
According to the press release, the primary driver behind this transaction is the creation of a vertically integrated aftermarket aerospace platform. The integration of Airway Aerospace is designed to complement the existing capabilities of Aviation Concepts.
Jason Fulton, a Partner at CORE Industrial Partners, highlighted the operational benefits of this combination in a statement regarding the deal:
“Combining ACI’s [Aviation Concepts] parts distribution network with Airway’s repair offerings improves turnaround times and delivers greater value to customers.”
The strategy focuses on offering a “one-stop” solution that can reduce turnaround times, a critical metric in the aviation industry, by housing both component supply and repair services under one umbrella. The deal also expands AxioAero’s market reach across cargo, commercial, and defense sectors.
Founded in 2013 and headquartered in Doral, Florida, Airway Aerospace operates as an FAA-certified repair station. The company holds certifications from the Federal Aviation Administration (FAA), the EASA, and the UK Civil Aviation Authority (CAA), allowing it to service a global customer base.
Airway specializes in the repair and overhaul of critical aircraft components, including: The company services a wide range of aircraft platforms, including the Boeing 737, 747, and 767, as well as the Airbus A320 family, A300, and A330. It also supports military variants such as the Boeing 707. Additionally, Airway possesses RS-DER (Repair Specification Designated Engineering Representative) authority, enhancing its technical engineering capabilities.
Matt Haugk, CEO of AxioAero Group, emphasized the forward-looking nature of the acquisition in the company’s announcement:
“The acquisition of Airway Aerospace marks an important step in AxioAero’s strategy to build a differentiated platform in the aerospace aftermarket… Together, we will continue to expand capabilities and deliver value to customers worldwide.”
Joe Ferrer, the owner of Airway Aerospace, will remain with the company following the transaction. He expressed confidence in the partnership’s ability to support growth while maintaining the company’s established culture:
“We view AxioAero Group as the ideal partner to support our continued growth while ensuring the Company retains its core identity, culture, and small-business agility.”
We observe that this transaction aligns with broader trends in the aerospace MRO sector, where private equity firms are increasingly consolidating fragmented markets. By acquiring specialized repair stations like Airway, platforms like AxioAero can mitigate supply chain volatility. Owning both the parts distribution (via Aviation Concepts) and the repair capability (via Airway) provides a hedge against the parts shortages that have plagued the post-2020 aviation landscape. Furthermore, with aging fleets of B737 and A320 aircraft requiring more frequent maintenance, the demand for the specific component repairs offered by Airway is likely to remain strong.
AxioAero Group Expands MRO Capabilities with Acquisition of Airway Aerospace
Strategic Rationale: Vertical Integration
Target Profile: Airway Aerospace
Executive Commentary
AirPro News Analysis
Sources
Photo Credit: AxioAero Group
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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