Nice pickup from the Boeing facilities firesale that's going on around the world.
I wouldn't underestimate this sentence and it's ability to scuttle the deal: "Completion is expected around the end of 2020 and is subject to Quickstep obtaining certain necessary regulatory approvals related to the operation of the facility." Some airworthiness accreditations are strongly linked to individuals and if those individuals don't stick around, then the accreditation goes away unless a suitable replacement can be found. It is therefore very important that QHL secure the right people during this purchase to retain the certifications.
I'd also be interested to see how many of the repairs they designed were done in house versus being sent back to the Boeing mothership as well, as the BACR flyer touts this "deep technical backup of the OEM network" as a key value add for them. Not being Boeing owned anymore may mean they loose access to all the technical documents and drawings you need to design repairs effectively too. I'm not saying it can't be done, but from past experience designing repairs myself it's significantly easier to do it starting with existing drawings versus having to survey and model the repair location on the aircraft first.
BACR-Brochure.pdf
The presser mentions that discussing an LTA with Boeing for "broader, ongoing collaboration" but that will cost money. And to need repairs you need to be flying aircraft to get damaged, and there isn't a whole lot of that going on right now in commercial aviation. But Mark does say this is targeting post-COVID growth.
Overall I think it will be a good purchase for the company and will diversify revenue, but I don't think it will be a huge money maker. Would happily be proved wrong on that!
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