Carlyle acquired StandardAero, a global provider of aftermarket engine maintenance, repair and overhaul services for the aerospace and defense industries, from Veritas Capital. Financial terms were not disclosed, however StandardAero's value was rumoured to be around $5bn. Russell Ford, CEO of StandardAero, said, “We are excited to partner with The Carlyle Group, and we thank Veritas Capital for its support and partnership. We look forward to working with Carlyle to further our aggressive growth trajectory as we continue providing world-class services to our customers as one of the world’s best and largest independent MRO service providers.”