Adani Group to Acquire MRO Services Firm Air Works for 400 Crore Enterprise Value
Adani Group has revealed its intention to acquire the maintenance, repair, and overhaul (MRO) company Air Works for an enterprise value of ?400 crore.
"Adani Defence Systems & Technologies Ltd. (ADSTL) has signed a share purchase agreement to acquire 85.8% shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint", the ports-to-power conglomerate said in a statement.
The acquisition enhances Adani's capabilities in the defense MRO sector, solidifying its position in India's airborne defense ecosystem.
Air Works, which operates across 35 cities with a workforce of over 1,300 personnel, provides comprehensive aviation services, including line maintenance, heavy checks, interior refurbishment, and avionics upgrades.
The company also provides base maintenance for narrow-body, turboprop, and rotary-wing aircraft at its facilities in Hosur, Mumbai, and Kochi, with regulatory approvals from civil aviation authorities in more than 20 countries.
Beyond its leadership in civil aviation, Air Works has developed strong capabilities in defense MRO, successfully executing projects for key platforms of the Indian Navy and Indian Air Force.
Commenting on the acquisition plan, Jeet Adani, Director of Adani Airports, said, “The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircraft in the coming years”.
"For us, creating a presence in the MRO sector is more than just a strategic step—it’s a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure".
Ashish Rajvanshi, CEO, of Adani Defence & Aerospace, termed the acquisition a 'a pivotal step' in the company's "mission to strengthen India’s MRO capabilities".
