Essential Turbines to Expand Footprint with Acquisition of AeroMaritime Mediterranean
Deal News | Apr 03, 2025 | PR Newswire Cision Essential Turbines Inc.
Essential Turbines Inc. (ETI), a leader in maintenance, repair, and overhaul (MRO) services for aircraft engines, has announced its acquisition of AeroMaritime Mediterranean from ITP Aero. AeroMaritime, based in Malta, specializes in Rolls-Royce engine maintenance, with a rich history in both civil and military sectors. This purchase aligns with Essential Turbines' growth strategy to expand its global presence and capabilities, especially within the Rolls Royce network. Gannon Gambeski, ETI's President and CEO, expressed enthusiasm over the acquisition, citing it as a strategic move to enhance ETI's service offering. The transaction, pending regulatory approvals, is expected to finalize in the second quarter of 2025. ITP Aero, on its part, intends to refocus on larger commercial and defense engines as part of its business simplification strategy. Essential Turbines is financially backed by Swift Anchor Holdings and Balance Point Capital, and continues to seek further strategic growth opportunities.
Sectors
- Aerospace and Defense
Geography
- Canada – Essential Turbines Inc. is headquartered in Montreal, Canada, marking it as a key geography involved.
- Malta – AeroMaritime Mediterranean is based in Malta, making it a crucial geographical location for the transaction.
- Spain – ITP Aero, the selling company, has its roots in Spain.
Industry
- Aerospace and Defense – The article revolves around companies involved in aerospace maintenance, repair, overhaul, and engine manufacturing, all integral parts of the Aerospace and Defense industry.
Financials
- Not disclosed – The financial terms of the acquisition deal between Essential Turbines Inc. and ITP Aero for AeroMaritime Mediterranean were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Essential Turbines Inc. | Bidding Company | Company | A leading provider of MRO services in aerospace, headquartered in Montreal, pursuing strategic growth through acquisitions. |
| ITP Aero | Selling Company | Company | An aerospace propulsion company divesting its AeroMaritime Mediterranean unit to streamline its focus. |
| AeroMaritime Mediterranean | Target Company | Company | A Malta-based aerospace MRO, focused on Rolls-Royce engines, serving civil and military sectors globally. |
| Gannon Gambeski | CEO of Essential Turbines Inc. | Person | CEO of Essential Turbines Inc., excited about the acquisition of AeroMaritime Mediterranean. |
| Alan Jones | Executive VP of MRO at ITP Aero | Person | Executive VP of MRO at ITP Aero, involved in the divestment of AeroMaritime Mediterranean. |
| Swift Anchor Holdings | Financial Backer | Company | One of the financial backers of Essential Turbines. |
| Balance Point Capital | Financial Backer | Company | Another financial backer of Essential Turbines. |