StandardAero Inc. is seeking to raise $1.1 billion in its initial public offering, after its backer Carlyle Group Inc. had decided to pursue a listing for the aircraft maintenance services provider rather than a sale.

Aviation services provider StandardAero, backed by buyout firm Carlyle Group and Singapore's sovereign wealth fund GIC, said on Monday it was targeting a valuation of up to $7.54 billion in its initial public offering in the United States.

StandardAero, which was founded in 1911, serves commercial-aerospace, military and helicopter, and business-aviation clients with about 7,300 employees working at more than 50 facilities across the globe.