Cascade Aerospace has been sold to a the IMP Group, based in Halifax, N.S.
Cascade is based at the Abbotsford International Airport, has 650 employees, and is a aerospace and defence contractor. It provides fleet management, maintenance and other services to the Department of National Defence and commercial aviation companies. This includes a contract to maintain and support Canada's fleet of Hercules military aircraft.
IMP reported plans to continue running Cascade as a stand-alone operation, and not shrink the work force.
The IMP Group has 3,700 employees working in a variety off fields including aerospace, aviation, healthcare, information technology, hotels and property development. Of these, 1,800 work for IMP Aerospace and Defence, which services Cormorant helicopters on the West Coast.
"The combination of Cascade with IMP Group’s Aerospace and Defence business unit headquartered in Nova Scotia will complement IMP’s capability in the aerospace and defence sectors," said a company press release. "IMP believes that the acquisition also aligns with the Government of Canada’s objective of encouraging the development of a world-class Canadian aerospace in-service support capability that can compete in export markets. The transaction will close upon receipt of regulatory approvals."