Forward advises GT Engine Services on sale to STS Aviation Services

Forward is delighted to have advised Greg Macleod on his sale of GT Engine Services (GTES) a leading UK aircraft engine repair and maintenance provider, to STS Aviation Services (STS) a US headquartered, global provider of aircraft maintenance, repair and overhaul.

Founded in 2010, and based out of 100,000 square feet at Stansted Airport, GTES specialises in the repair and maintenance of a wide range of engines and has a strong reputation for its people-centric approach and technical expertise. GTES has over 120 customers worldwide, the business delivers over 300 jet engine repair solutions per year as well as providing storage capability for over 150 engines.

Greg will join as Managing Director, Engine Services for STS, becoming part of the broader STS Aviation Group, with opportunities to leverage the scale and reach of the wider STS family. Greg commented that “the last fourteen years have been very special for me. I am very proud of what we have achieved and GTES is now ideally placed with a great workforce and senior leadership team to join STS and start to write the next chapter”.

The Forward team consisted of Rob Dukelow-Smith and Amie Goodlad, and having first assisted Greg with his buyout of a former shareholder in 2021 had already built a trusted relationship. Following the approach by STS, Forward was the obvious place to turn, and the team acted as lead advisors to Greg, guiding him through the process from initial meeting to completion.

Commenting on the transaction Greg Macleod said, “Having previously worked with Rob at Forward, I knew I was going to be in safe hands, but whilst Rob and Amie prepared me for the process I was going to undertake, I hadn’t appreciated until the end how intense a sale of GTES was going to be. I can only say I’m delighted with the outcome and would strongly recommend Forward to anyone considering the sale of their business.”

Rob Dukelow-Smith, Director Forward Corporate Finance commented “It was an absolute pleasure to assist Greg on the sale of his business to an excellent acquirer. The positive outcome all round is a testament to Greg, his senior leadership team and all their hard work over many years, and we wish STS every success with their continued global growth.”

Legal advice for Greg was provided by Lucy Folley and Baljeet Kaur at Tees Law, with Tax support provided by Jan Fachot and Daniel Simper at PEM.