Spirit AeroSystems Expands Again with New MRO Acquisition, Growing Capabilities for Customers

Spirit AeroSystems (NYSE: SPR) announced today the acquisition (through a subsidiary) of the assets of Applied Aerodynamics, a high-quality composite maintenance, repair and overhaul (MRO) company based in Farmer Branch, Texas, which complements the company's acquisition of select Bombardier assets. The acquisition expands Spirit's existing MRO infrastructure in the region with the addition of Applied Aerodynamics' expertise, workforce, defense scope of work and 120,000-square-foot facility. The expansion allows Spirit to conduct a wider range of repairs on more products to help North American fleet operators and defense customers be more competitive by reducing administrative hassles and costs while also increasing quality and turnaround times.

"Spirit AeroSystems is investing heavily in MRO capabilities to improve the customer experience as part of its strategic transformation to be a more balanced, global company and Applied Aerodynamics is an obvious fit to help us achieve this goal," said Jim Lickteig, senior director of Aftermarket Solutions at Spirit AeroSystems. "With this acquisition, we're prepared to help customers where they need us the most as they rise out of this pandemic. By providing customized, high-quality MRO solutions, we can help operators control their costs and improve efficiencies and speed because of the added capacity."

With broader MRO capabilities, fleet operators can consolidate vendors, which helps to streamline communication efforts, reduce administrative costs, and increase efficiencies. In addition, with a more prominent presence near an international airport, inventory can be quickly airfreighted, further helping to drive down costs and increase speed. The Applied Aerodynamics acquisition enables Spirit to expand beyond MRO services for thrust reversers and nacelles on the 737 and 777 with new services for a broader range of fleets. These additional composite repairs include radomes, flight controls, lats, slats, flaps, spoilers, ailerons, winglets, and main landing gear doors for the 737, 747, 757, 767, A320, A321, 787 models. For defense, Spirit acquires a new scope of work for C17 flight controls and Coast Guard bearings.

"Spirit AeroSystems has been a trusted partner for many years because we share a common goal of delivering high-quality solutions with unrivaled pricing and efficiencies to help customers maximize airtime," said Brad Teel, founder and president of Applied Aerodynamics. "In addition to our values, this acquisition is a natural fit because we complement each other's services, expertise and capabilities. This will benefit the aviation industry significantly as it begins to bounce back from a challenging year and will require high-quality, affordable partners more than ever."

Spirit will be expanding the capabilities of Applied Aerodynamics to its other MRO locations, including Wichita, Kan., Western Europe, North Africa, and East Asia, over the next year as part of its ongoing commitment to helping customers increase their competitiveness in the market.

To learn more about Spirit's global MRO solutions and locations, visit the website.