AAR, provider of aviation services to commercial and government operators, MROs, and OEMs, has completed its acquisition of Triumph Group’s Product Support business, a global provider of specialised MRO capabilities for critical aircraft components in the commercial and defense markets.

AAR had previously announced in December 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.

John M. Holmes, AAR’s chairman, president and chief executive, 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.”

Dan Crowley, Triumph’s chairman, president, and chief executive, said: “We are pleased to complete this transformative divestiture which delivers immediate and substantial value to Triumph and our stakeholders.

“This transaction enables Triumph to greatly accelerate our deleveraging progress while placing our third-party Product Support business with a market-leading MRO company that has a proven track record of customer support.

“By strengthening our balance sheet and focusing on our OEM component, spares and IP-based aftermarket business, Triumph will further improve its capacity to win and expects to profitably grow in the expanding markets we serve.”

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