AAR agrees to buy 65% stake in MRO Holdings at USD 4 billion enterprise value
AIR•AAR agreed to buy a 65% controlling stake in MRO Holdings at an implied enterprise value of USD 4 billion. The deal includes about USD 1.8 billion in equity consideration and repayment of about USD 1.3 billion in borrowings; closing is targeted for AAR’s fiscal third quarter ending February 2027.
1. Deal terms and outlook
AAR agreed to acquire a 65% controlling stake in MRO Holdings at an implied enterprise value of USD 4 billion. Funding is set to include about USD 2.1 billion of new debt, USD 780 million of equity at USD 135 per share and a USD 230 million PIPE. MRO Holdings is forecast to generate about USD 1 billion in 2026 sales and USD 285 million in adjusted EBITDA, with its adjusted EBITDA margin seen rising from about 12% to 16% before synergies.
