AAR CORP has concluded its acquisition of Triumph Group’s Product Support business, a global provider of specialized maintenance, repair, and overhaul capabilities for aircraft components in both commercial and defense markets.
AAR CORP, a prominent provider of aviation services to commercial and government operators, MROs, and OEMs, has successfully concluded 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 both commercial and defense markets.
The completion of the acquisition marks a significant milestone for AAR, strengthening its repair capabilities, expanding its global footprint, and enhancing its ability to cater to customers worldwide. The transaction, which involved an aggregate purchase price of $725 million in cash, was initially announced on December 21, 2023. The financing for the acquisition was facilitated through the proceeds from AAR’s $550 million notes offering and borrowings under its amended revolving credit facility.
John M. Holmes, Chairman, President, and CEO, AAR said, “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. 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 operates as a global aerospace and defense aftermarket solutions company, with a presence in over 20 countries. Headquartered in the Chicago area, the company serves commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services.
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With the successful completion of the acquisition, AAR is poised to leverage the added capabilities and expertise from Triumph Group’s Product Support business to further enhance its position in the aviation services industry. The strategic move aligns with AAR’s commitment to providing comprehensive and specialized solutions to its diverse customer base in the aviation sector.
Question- What did AAR CORP acquire?
Answer- AAR CORP acquired Triumph Group’s Product Support business, a leading provider of aircraft component maintenance, repair, and overhaul services.
Question-What are the benefits of this acquisition for AAR?
Answer-This acquisition strengthens AAR’s repair capabilities, expands their global footprint, and enhances their ability to serve customers worldwide.
Question- How much did the acquisition cost?
Answer-The acquisition was completed for a total of $725 million in cash.
