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International defence company, Patria has acquired 100% of the shares of Belgium Engine Center SPRL (BEC) from AIM Norway in order to further strengthen BEC’s capabilities and business. BEC is a military jet engine maintenance, repair and overhaul (MRO) center that services the Pratt & Whitney F100 engine which powers F-15 and F-16 aircraft around the globe. The center also provides material management services for those engines. BEC has its operating base in Herstal in Belgium, and has about 90 employees.
This acquisition is part of the execution of Patria’s strategy in which the main growth area is international maintenance and life-cycle support business, particularly in Europe.
“The purchase of BEC is an important milestone for Patria. Growth in international maintenance operations is at the core of our strategy. Patria has a long history and solid know-how in aircraft maintenance, including their engines, both in Finland and other Nordic countries, and now with this acquisition this business will be expanded. We are committed to continue the excellent work done so far in BEC, as well as the high-quality standard customers expect from us. I also want to welcome BEC’s personnel to be part of Patria, and I’m convinced that together we will develop this business further. We have complementary competencies, which make us all stronger and more competitive”, states Jukka Holkeri, President of Patria’s International Support Partnerships business unit.
“On behalf of BEC I want to welcome Patria as a new Nordic owner of this company. We look forward to working together and ensuring our customers even larger services in future”, says Hugo Vanbockryck, Managing Director of Belgium Engine Center.
The acquisition does not change customer contracts or terms of employment for BEC employees or other commitments of the company and is in full compliance with legal requirements.
As a consequence of this acquisition, the official name of BEC will be changed to Patria Belgium Engine Center SRL, and communications will be built around the Patria brand. This unit will be an essential part of International Support Partnerships business unit at Patria. A few months’ transition period to implement Patria’s brand to the new unit is foreseen.
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