Stansted Airport-based GT Engine Services, a leading aircraft engine repair and maintenance provider, has been sold to STS Aviation Services, a US-based global provider in the sector. Forward Corporate Finance advised Greg Macleod on his sale of GTES, which was founded in 2010 and is based in 100,000 sq ft at the Essex airport. GTES specialises in the repair and maintenance of a wide range of engines and has a strong reputation for its people-centric approach and technical expertise.
The business has over 120 customers worldwide and delivers over 300 jet engine repair solutions per year as well as storage for over 150 engines. Greg Macleod will join as managing director, engine services for STS, with opportunities to leverage the scale and reach of the wider STS Aviation Group. The Forward team consisted of Rob Dukelow-Smith and Amie Goodlad who assisted Greg Macleod with his buyout of a former shareholder in 2021.
Greg Macleod said: “Having previously worked with Rob at Forward, I knew I was going to be in safe hands, but whilst Rob and Amie prepared me for the process I was going to undertake, I hadn’t appreciated until the end how intense a sale of GTES was going to be.”
Rob Dukelow-Smith, director Forward Corporate Finance, said: “The positive outcome all round is a testament to Greg, his senior leadership team and all their hard work over many years, and we wish STS every success with their continued global growth”. Legal advice for Greg Macleod was provided by Tees Law, with tax support provided by Jan Fachot and Daniel Simper at PEM.
See Profile Forward Corporate Finance
