HALIFAX, NS, Feb. 12, 2026 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) is pleased to announce that it has entered into an agreement to acquire Kadex Aero Supply Ltd. (‘Kadex’), a leading independent distributor of aircraft parts, supplies and repair and overhaul services. The acquisition is expected to close during the second quarter of 2026.
Kadex, a private company founded by principals John Lavery and Ken Blow in 1994, generated approximately $60 million1 in revenue in 2025. Kadex employs approximately 50 people across two locations, with its main location in Peterborough, Ontario and a regional supply location in Calgary, Alberta. The company’s strong partnerships with over 70 different original equipment manufacturers (‘OEM’) and deep technical expertise provide its customers with value-added one-stop shopping.
“This acquisition represents a significant step forward in our strategy to grow and diversify Chorus’ aviation, aerospace and defence services,” said Colin Copp, President and Chief Executive Officer, Chorus. “Kadex is a highly respected company with strong OEM and customer relationships and has a proven operating model with a growing revenue stream that is expected to enhance the durability of our earnings profile.”
“Kadex will add a complementary platform to our used serviceable materials business, delivering consistent cash flows aligned with our long‑term focus on shareholder value,” noted Mr. Copp. “We look forward to welcoming John, Ken, and the entire Kadex team to Chorus, as they continue to build on the strong foundation they have created for the Kadex brand and reputation.”
“Over the past 30 plus years, we have been focused on building a leading company committed to servicing our customers’ aviation supply needs. Becoming part of the Chorus family of businesses is an exciting next step for Kadex and our employees – and we look forward to working with the Chorus team as we continue to grow our business,” said John Lavery, President and CEO, Kadex.
Acquisition Details
On February 12, 2026, Chorus entered into an agreement to acquire Kadex for total consideration of approximately $50 million, subject to customary adjustments inclusive of contingent consideration. The purchase price will be funded by $43 million in cash with the remainder of the purchase price payable over the next two years subject to meeting certain performance targets. This acquisition is subject to customary closing conditions and is expected to close during the second quarter of 2026.
The acquisition is expected to be immediately accretive to Chorus’ earnings and cash flow from the date of closing and Kadex will significantly expand and grow our aircraft parts sales business. The acquisition of Kadex will be financed through cash.
This acquisition aligns with Chorus’ disciplined approach to capital allocation, focusing on high‑return opportunities while reinforcing stable cash flows and delivering sustainable shareholder value.
Kadex will provide Chorus with enhanced service breadth especially in the aviation parts market, deep customer relationships and advances Chorus’ goal of building a diversified and complementary aviation, aerospace and defence platform.
All dollar amounts are expressed in Canadian dollars.
About Chorus Aviation Inc.
Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional airline in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines and Elisen & Associates, a leading provider of aerospace engineering and certification services. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: contract flying; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.