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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the following « summary of the operation », containing the information provided by the parties.
This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
- The direct acquirer: « Quatro Parent, Inc »;
- The indirect acquirer: « Audax Management Company, LLC »;
- The target: « S3 AeroDefense, LLC ».
Nature of the operation
- Exclusive control takeover.
Economic sectors concerned
- Maintenance, repair, and overhaul (MRO) services and spare parts in the aeronautical sector.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e., April 8, 2026.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received notification of an economic concentration project involving the acquisition by « Audax Management Company, LLC » through its subsidiary, « Quatro Parent, Inc », of the exclusive control of « S3 AeroDefense, LLC » through the acquisition of 100% of its share capital and associated voting rights.
« Quatro Parent, Inc » is a corporation formed under the laws of the State of Delaware in the United States of America, with its registered office at 1209 Orange Street, Wilmington, DE 19801, United States of America, and registered with the Delaware Division of Corporations under number 10488900. It is an ad hoc entity established for the purpose of the transaction and intended to hold interests in « S3 AeroDefense, LLC ». As such, « Quatro Parent, Inc » does not engage in any independent commercial activities. « Quatro Parent, Inc » is exclusively and indirectly controlled by funds managed or advised by « Audax Management Company, LLC ».
« Audax Management Company, LLC » is a limited liability company formed under the laws of the State of Delaware in the United States of America, with its registered office at 101 Huntington Ave, FL 25, Boston, MA 02199, United States of America, and registered under number 3047055 in the State of Delaware. It is an investment manager providing investment oversight services to investment vehicles and entities separate from the « Audax » group. The « Audax » group is a financial partner for middle-market companies, operating through three distinct business segments: « Audax Private Equity », « Audax Private Debt », and « Audax Strategic Capital ». The transaction is carried out by the « Audax Private Equity » segment, which primarily invests in companies active in the following sectors: business services, consumer, financial services, healthcare, industrial services and technologies, as well as software and technologies.
« S3 AeroDefense, LLC » is a limited liability company formed under the laws of the State of Wisconsin in the United States of America, with its registered office at 2101 West Camden Road, Milwaukee, WI 53209, United States of America, and registered under number J048287. It provides comprehensive maintenance, repair, and overhaul (MRO) solutions for military aircraft components. Its services range from component repairs to complex overhauls, covering a wide range of military platforms. The company relies on partnerships with original equipment manufacturers (OEMs) to perform quality-compliant repairs, using proprietary repair data and approved parts. In addition to its MRO services, « S3 AeroDefense, LLC » distributes original spare parts to military operators, MRO providers, repair centers, and distributors. Finally, « S3 AeroDefense, LLC » provides certain engineering and technical solutions.
Done in Rabat, March 27, 2026
