Ahmedabad, Aug 11 : Adani Defence Systems and Technologies Limited (ADSTL), in partnership with Prime Aero, on Monday signed a binding agreement to acquire a 100 per cent stake in Indamer Technics Private Limited (ITPL), one of India's leading private-sector Maintenance, Repair, and Overhaul (MRO) companies.

The acquisition was reached via Adani Defence's venture, Horizon Aero Solutions Limited. Horizon is a 50-50 partnership between ADSTL and Prime Aero, a company owned by Prajay Patel, the director of Indamer Technics.

Strategically located at Nagpur in the MIHAN special economic zone (SEZ), ITPL has set up a state-of-the-art greenfield facility on the 30-acre site.

The facility has the capacity to accommodate 15 aircraft bays across 10 hangars.

"The Indian aviation industry has witnessed an unprecedented transformation, becoming the third largest in terms of passenger traffic. With the Indian carriers set to induct more than 1,500 aircraft in the coming years, we are on the cusp of a new era in aviation," said Jeet Adani, Director, Adani Airports.

"This acquisition is the next step in our push to establish India as a premier global MRO destination. It also reinforces our commitment to building an integrated aviation services ecosystem that strengthens India's aviation infrastructure," he mentioned.

The ITPL is approved by DGCA, FAA (USA) and other global civil aviation regulators. The company offers a comprehensive suite of MRO services, including lease return checks, heavy C-checks, structural repairs, and aircraft painting to leading Indian and global customers.

'Our goal is to create a single-point aviation services platform that is driven by world-class quality standards and customer satisfaction. As we have stated before, we are determined to play a pivotal role in shaping the future of India's skies,' said Jeet Adani.

Ashish Rajvanshi, CEO, Adani Defence and Aerospace, said: "This acquisition marks another critical milestone in fulfilling Adani Defence & Aerospace's vision to deliver a full-spectrum MRO offering to meet the needs of both commercial and defence aviation sectors."

"Following the addition of Air Works to our portfolio, this acquisition further strengthens our capabilities and footprint in the MRO segment and reinforces our position as the largest private-sector MRO player in the country. The strategic location of Nagpur, at the centre of the country, adds immense value to our operations by bolstering our pan-India footprint and providing us substantial capacity to scale up our business," he added.

Adani Defence & Aerospace, part of the Adani Group, is a pioneer in the design, development, and manufacturing of state-of-the-art defence products. It has established a vibrant ecosystem of startups and MSMEs with an export-oriented mindset, best-in-class processes, and quality management systems.

"We are excited to partner with Adani Defence & Aerospace to take Indamer Technics to new heights. This collaboration brings together deep-rooted engineering excellence with robust infrastructure and growth capital," said Prajay Patel, Director of Indamer Technics and Prime Aero.

/IANS