AAR CORP., a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced that it has completed its acquisition of Triumph Group’s Product Support business. Triumph Group’s Product Support business is a leading global provider of specialized maintenance, repair, and overhaul capabilities for critical aircraft components in the commercial and defense markets.
AAR previously announced on December 21, 2023, that it had entered into a definitive agreement to acquire Triumph Group’s Product Support business for an aggregate purchase price of $725 million in cash, subject to customary adjustments. The transaction was financed with proceeds from AAR’s previously announced $550 million notes offering and borrowings under its amended revolving credit facility.
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“The completion of this acquisition scales AAR’s repair capabilities, expands our footprint in the APAC region, and enhances our ability to serve our global customers,” said John M. Holmes, AAR’s Chairman, President and CEO. “We’re excited to welcome more than 700 team members from the Product Support business who bring expertise in key areas to the AAR team.”
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services.
SOURCE : PRNewswire