Private Equity Firm Buys Volvo Aero Services

By Lee Ann Tegtmeier leeann_tegtmeier@aviationweek.com

H.I.G. Capital, a global private equity firm, closed the deal to purchase Volvo Aero Services from AB Volvo late on Oct. 6 for an undisclosed amount. Claes Malmros, Volvo Aero Services’ president and CEO, will remain, as will the rest of the management and staff. He says the company will change its name to VAS Aero Services within 45 days of Oct. 7. Transitioning functions such as information technology and financial systems from Volvo should take about one year ...

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