Lufthansa Technik has taken an 80% stake in ETP Thermal Dynamics, a US-based company that specializes in MRO services for heat exchangers, oil and fuel coolers.
The company said on 22 August that the acquisition marks “a significant step in the expansion of its aircraft component services portfolio in the Americas”. It did not quantify the investment.
“The acquisition of ETP will enable Lufthansa Technik to enhance its heat exchanger capacity within its network and further strengthen its supply chain security,” the company adds.
Earlier this year, LHT said it planned to invest €1.2 billion ($1.3 billion) in the next four years to support its ’Ambition 2030’ strategic growth initiative after parent Lufthansa last November scrapped plans to divest a partial stake of the company. It is is positioning itself to grow both organically, including building a new facility in Europe, as well as through acquisitions.
‘Ambition 2030’ calls for the company to almost double its revenue to more than €10 billion and profit to more than €1 billion by the end of this decade. To do that, LHT chief executive Soeren Stark said at the time that the company will focus on its core business, expand its international presence and its digital business models.
“The acquisition of ETP represents an important step in Lufthansa Technik’s strategic growth and the expansion of its capabilities in the aircraft component services in the region,” says Michael Scheferhoff, managing director at Lufthansa Technik Component Sercices. “With this partnership, Lufthansa Technik can enhance its market presence and reinforces its position as a globally leading MRO provider.”
Rick Campbell, shareholder of ETP Thermal Dynamics, adds: “This acquisition ensures continuity and growth for ETP by leveraging Lufthansa Technik’s expertise and market reach to enhance our capabilities and services in the aircraft component market.”
Lufthansa Technik is also planning to build another component repair factory in “the southwest of Europe” that will open by 2027.
