AAR to acquire 65% stake in MRO Holdings
AIR•AAR will acquire a 65% controlling stake in MRO Holdings at an implied enterprise value of $4 billion. The deal is expected to close in the fiscal third quarter ending February 2027 and carry approximately $75 million in annual cost synergies.
1. Deal terms
AAR will finance the acquisition with new debt, approximately $780 million in equity for sellers and about $230 million through a PIPE transaction. The deal is expected to close in the fiscal third quarter ending February 2027. AAR expects approximately $75 million in annual cost synergies, with full realization targeted by May 2030; pro forma adjusted EBITDA margin would be about 16%, compared with roughly 12% before synergies.
