Monarch Aircraft Engineering (MAEL), an aircraft MRO and training provider, agreed to the terms of a new ownership structure that will transition Greybull Capital LLP to the majority shareholder of MAEL.

MAEL’s lenders, the PNC Financial Services Group Inc. will continue to provide facilities and support, and many of MAEL’s key customers have expressed their support for the business’ restructuring process.

CEO of Monarch Aircraft Engineering, Chris Dare says, “Today marks an exciting new chapter for Monarch Aircraft Engineering as we plan to move forward with ambitious plans for growth, building on the solid foundations we have built for our business in the past year."