Quickstep announced Friday (19 February) that it has completed the acquisition of Boeing Defence Australia’s aerospace maintenance, repair and overhaul (MRO) capability based in Tullamarine, Victoria, as announced on 13 November 2020.
Under the terms of the Asset Purchase Agreement announced previously, Quickstep (through its wholly-owned subsidiary, Quickstep Aerospace Services) will acquire operating assets plus inventories and certain customer contracts from Boeing Australia Component Repairs (BACR). Quickstep will also make offers to certain BACR employees and will take on employee liabilities for transferring employees and certain other business liabilities. An Australian bank has committed to funding the purchase as part of a refinancing package for Quickstep’s existing long-term loan, offering a reduced margin. Financial details were not disclosed.
BACR manages a wide range of composite, bonded and conventional metal aircraft structures for both commercial and military operators. The team has recent experience working with Boeing, Airbus, Embraer and Bombardier aircraft, F/A-18A/B Classic Hornets, F/A-18F Super Hornets, C-130J Hercules and CH-47 Chinooks. Quickstep intends to leverage its existing relationships and capabilities to broaden the scope of MRO work offered to include F-35 and other military and commercial work. Key approvals include all major regulatory bodies – CASA, FAA, EASA and DASR and Quickstep is working towards obtaining these certifications.
Separate to the Asset Purchase Agreement, Boeing Defence Australia and Quickstep said in November they have agreed to commence discussions on a long-term agreement that, if entered into, would develop a broader, ongoing collaboration in both the military and commercial aerospace segments, covering new production and sustainment of existing aircraft types.
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