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ABU DHABI, UAE: Following the consolidation of Mubadala’s financing, leasing and MRO businesses to create Sanad Group, the company has now announced the appointment of its leadership who will be tasked with the goal of delivering integrated and comprehensive solutions for its global client base through Sanad Aerotech, Sanad Powertech and Sanad Capital.
Troy Lambeth has been appointed as Group Chief Executive Officer (GCEO) and will continue to serve as CEO of Sanad Capital, which he has led since its launch in 2009. Mansoor Janahi has also been appointed as the Deputy Group CEO (DCEO), and will continue to serve as CEO of Sanad Aerotech and Sanad Powertech, which he has led since March 2018. These appointments reinforce Mubadala’s aspirations for positioning Abu Dhabi as a global aerospace ecosystem that is driven by home grown talent.
Badr Al Olama, Chairman of Sanad, and Executive Director of Aerospace at Mubadala said: “Troy and Mansoor have been instrumental to Sanad’s growth and development. As a group, the combined companies will complement each other to deliver a range of comprehensive services and solutions that meet the challenges of a challenging sector. With significant developments that are taking place through fourth industrial revolution technologies, we are seeing new business models that are driven by major customer expectations. This requires us to integrate our offering and capitalize on our combined past achievements to deliver high quality innovative solutions that creates value for customers.”
Sanad integrates the synergies of Sanad Aerotech, the specialist aircraft engine maintenance, repair, and overhaul (MRO) service provider; Sanad Capital, the dedicated aircraft engine and components leasing service provider; and Sanad Powertech, the energy and industrial MRO service provider. As a group, Sanad is becoming an aviation services powerhouse well positioned to provide comprehensive solutions that support the needs of its customers.
The group’s launch in November 2019 was designed to build on Mubadala’s Aerospace investments in engineering and leasing solutions excellence. The company will also focus on adopting new technologies such as Artificial Intelligence (AI), automation and big data to bring transformative change to the aerospace and aviation sector.
Since 2016, Sanad has experienced significant growth, serving an expanding global customer base from its headquarters in Abu Dhabi. Major deals include the landmark AED 23.8 billion (USD 6.5 billion) engine maintenance agreement with Rolls Royce for Sanad Aerotech, the award of a major contract of MRO services for Shams Power Company to Sanad Powertech and the delivery of the final tranche of a AED 1 billion (USD 280 million) engine leasing deal with Etihad Airways through Sanad Capital.
For further information, please contact:
Wietske van Marle and Mohamed Zaki
sanad@actionprgroup.com
+971 4 390 2960
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to actively source deals. In the UAE, we are driving sustainable growth by optimizing scale and efficiency, supporting the continued diversification and global integration of the local economy while growing our shareholder value.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
About Sanad
Sanad is a wholly owned subsidiary of Mubadala. Based in Abu Dhabi, Sanad provides MRO services and lease finance solutions across the global aerospace, industrial and energy sectors via a multi-faceted business portfolio comprising Sanad Aerotech, Sanad Capital and Sanad Powertech.
Leveraging more than three decades of experience in the aviation industry, Sanad’s industry-leading reputation for precision, quality, reliability, innovation and technology makes it an integrated service provider of choice for sustainable growth, leasing and engineering excellence.
Sanad’s continued investment in key technologies, capabilities and asset classes are the foundations of a future strategy based on employing 4th Industrial Revolution technologies that optimise the advantages of data and enable customers to take their operations to new heights.
To learn more about Sanad or Mubadala, please visit: www.sanad.ae or www.mubadala.com
© Press Release 2020
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