Developing first-class MRO solutions in the industry

Risto Mäeots, CEO of Magnetic MRO, has been in the MRO industry for 11 years now, excluding his education years in aviation. He had graduated from Estonia Aviation Academy, followed by MSc in Engineering at Tallinn Technical University. His professional career includes different positions at Magnetic MRO, varying from aircraft technician to several post-holder positions. Risto Mäeots has been involved in many historical projects in the company, including the expansion of capabilities and infrastructure, establishment of new approvals, development and execution of strategy.

“One of the recent accomplishments which brought a certain ‘sense of achievement’ was the successful completion of Magnetic MRO shares sales from private equity owner to Hangxin. It was an intense process; in terms of transaction size it was the biggest Chinese investment in Estonia and most importantly, it paved a road for further growth potential.” Mäeots told Aviation Guide.

 

“I have a vision and strong belief that we will continue to grow business into an innovative agile, technology-driven global MRO powerhouse, finding ways to differentiate the company in this hyper-competitive MRO marketplace. These are exciting times for the industry and Magnetic MRO and I am thrilled to have an opportunity to lead it through the next period of growth”.

 

His hobbies include various sports, which entails competing and helping in ‘switching off’ with the least time spent; such as cross-country cycling and endurance motor cross. “In short, the best medicine to gather thoughts is an adrenaline kick”.

 

He describes his role models as ‘gentlemen who have pushed the boundaries’.
“Leaving the MRO industry aside, Elon Musk as an individual has extended the understanding of what commitment, dedication and execution can deliver. It’s another question if all the ideas make sense business wise but certainly he has given another perspective to ‘what can be achieved’. Through various ways I have had the chance to meet Mr. Tony Fernandes (Air Asia) – certainly a person to learn from”.

 

This year Magnetic MRO has completed a major milestone and is fully authorized to provide line maintenance services for Airbus330 family. It has further expanded its line maintenance capabilities following its part 145 approval being upgraded in March. “We hope to achieve the same reputation and market exposure with wide-body aircraft as we have done with narrow-bodies. We have some M&A news in the pipeline related to the expansion of our wide-body activities, and we keep pushing its organic growth”.

 

Furthermore, Magnetic MRO and Guangzhou Hangxin Aviation Technology recently completed the full acquisition and change of shareholder structure in May 2018. It is recorded as China’s largest investment deal in Estonia worth 43 million euros of equity value. “During Magnetic MRO’s sales process we had several other industry and equity investors showing their interest. Hangxin was one of the most committed ones. The fact that it was their first big investment outside of China; and the fact that we are very equal in terms of business size drove me to support Hangxin as our new owner. These are extremely important arguments, as there is no room for failure and we can rest assured that this will not culminate as a ‘big fish swallowing a smaller one’. Both parties are committed to making the new synergies work. With the growing pace of the Chinese and Asian markets we are eager to make the best out of it”.

 

Before becoming CEO, Mäeots worked as COO of Magnetic MRO, responsible for controlling diverse business operations as well as designing and implementing business strategies, plans and procedures.