BAIN CAPITAL invests in MRO HOLDINGS
Context
Bain Capital agreed in July 2024 to take a strategic minority stake in MRO Holdings, the aircraft maintenance provider, in a transaction announced on 9 July and still subject to closing conditions. The investment was made through Bain Capital Special Situations, the firm's minority and bespoke capital arm, and was intended to fund the company's growth plans. The existing shareholders, the Kriete family and Caoba Capital, remained in the capital alongside Bain Capital, with Roberto Kriete as chairman, while the management team led by Greg Colgan continued to run the business. At the time of the deal, MRO Holdings operated four facilities in the Americas, with maintenance sites in El Salvador, Mexico and the United States, and carried out around 10 million hours of aircraft maintenance and modification work a year for commercial airlines. Solomon Partners and Greenberg Traurig advised MRO Holdings as financial and legal advisers, while A&O Shearman acted as legal adviser and Griffin Global Asset Management as adviser to Bain Capital.
MRO HOLDINGS, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Industry & Manufacturing sector (11.7x).
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Target
Founded more than four decades ago, MRO Holdings performs heavy airframe maintenance and modification work on commercial aircraft, from scheduled heavy checks to structural repairs and cabin or systems modifications. Airlines send their aircraft to its hangars for work that takes them out of service for days or weeks, carried out by its own technicians and engineers. The company runs maintenance facilities in El Salvador, Mexico, Colombia and the United States, and sells directly to airlines operating in the Americas.
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Other operations with MRO HOLDINGS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2026 | AAR | MRO HOLDINGS | EL SALVADOR | MRO (Maintenance, Repair & Overhaul) |
REFERENCES
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Press release: view release
Target: mro holdings
Acquirer: bain capital