ITP Aero Announces Acquisition of Aero Norway

ITP Aero has announced a new agreement that will result in acquiring Aero Norway.

Aero Norway is an MRO based in Stavanger, Norway, that performs overhaul and repair for CFM56 aircraft engines out of its Sola Airport facility. The company’s customers include:

• Airlines
• Lessors
• Asset managers

This agreement makes it possible for ITP Aero to advance its global growth strategy and aftermarket service capabilities. It also allows the company to strengthen its capacity in the aftermarket for large commercial platforms.

This acquisition contributes to MRO growth for ITP Aero, a goal after its acquisition in 2022 by Bain Capital. In 2023, ITP Aero acquired BP Aero in the United States. The company also increased its engine platform capabilities in 2025 by being added to Pratt & Whitney’s GTF MRO network.

CEO of ITP Aero Group Eva Azoulay commented, “The signing of this binding acquisition agreement marks a significant milestone in our strategic roadmap.

Azoulay continued, “This acquisition reinforces our ambition to become a leading independent player in the aerospace aftermarket. Aero Norway’s expertise and capabilities will be instrumental in delivering exceptional value to our customers as we move forward together.”

CEO of Aero Norway Neil Russell said, “Today’s announcement marks the beginning of an exciting new chapter in our journey.”

Russell added, “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.”

“We are pleased to join the ITP Aero Group and look forward to working together to drive innovation, technical excellence, and long-term growth in the global aerospace aftermarket,” noted Russell.

According to ITP Aero, the company has tripled its earnings since 2022 and has shared plans to double in size by 2030 as part of its 2030 Business Plan.

Part of this plan also involves growing the global aviation workforce by at least 50%, including:

• MRO
• Civil aviation
• Defense
• Business aviation

ITP Aero anticipates closing the acquisition of Aero Norway in the first half of 2026, once all customary approvals are secured. ITP Aero was advised on legal M&A matters by Baker McKenzie.