New Delhi

Adani Group on Monday said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore.

"Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate stated. With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft. 

The acquisition enhances Adani's capabilities in the defence MRO sector, solidifying its position in India's airborne defence ecosystem. This strategic move marks a pivotal step in Adani's growth trajectory, laying the foundation for its expansion into the civil aviation services domain.

Air Works offers end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics and asset management services to its Indian and global customers.