Haeco buys US aircraft maintenance firm

Swire Pacific’s subsidiary Haeco buys US-based aircraft maintenance firm Timco for $388 million.
The acquisition from hedge fund Owl Creek Asset Management is the second-largest US deal by a Hong Kong-listed company since 2011.
The acquisition from hedge fund Owl Creek Asset Management is the second-largest US deal by a Hong Kong-listed company since 2011.

Hong Kong Aircraft Engineering Company Haeco has agreed to buy Timco, a US-based provider of aircraft maintenance and repair services, for $388.8 million.

The acquisition from hedge fund Owl Creek Asset Management is the second-largest US deal by a Hong Kong-listed company since 2011, after Fosun earlier this week announced the $725 million purchase of Chase Manhattan Plaza from JP Morgan.

Timco, headquartered in Greensboro, North Carolina, is one of the world's biggest independent aircraft maintenance, repair and overhaul MRO companies in the world. Its acquisition will give Haeco a presence in the US, turning it into the world's second-largest independent MRO company, according...

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