AAR completes acquisition of Triumph Group’s Product Support business

AAR Corp. (AIR) announced that it has completed its acquisition of Triumph Group’s (TGI) Product Support business, which it calls “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 $725M in cash, subject to customary adjustments. The transaction was financed with proceeds from AAR’s previously announced $550M notes offering and borrowings under its amended revolving credit facility. “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,” said John Holmes, AAR’s Chairman, President and CEO.