Asset management specialist and aftermarket spare parts supplier Werner Aero is under new majority ownership after Sumitomo Corporation acquired a 51% stake in the U.S.-based business.
The agreement was finalized at the end of last week for Mahwah, New Jersey-headquartered Werner, which specializes in aircraft end-of-life solutions. These include part-out of retired aircraft, which it breaks down to sell used serviceable parts to MRO providers.
In addition to its U.S. home base, the company also operates an Asia-Pacific headquarters out of Singapore.
Sumitomo Corp. has nearly 900 group companies, including several aviation assets such as Dublin-based aircraft lessor SMBC Aviation Capital and engine leasing specialist SMBC Aero Engine Lease.
Previously, the Japanese company owned 20% of Amsterdam-based MTU Maintenance Lease Services before selling its share to MTU Aero Engines in November 2021.
“This acquisition will position us to expand the business and grow our offerings to our customers,” says Mike Cazaz, CEO of Werner Aero, who founded the company in 1993.
Cazaz adds that the new ownership will enable it to cater to market demand for spare parts and services. “This transaction will give us greater capacity for full-service aircraft management and support and just-in-time inventory,” he says.
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