AAR to buy majority stake in aircraft maintenance firm MRO Holdings for $1.8 billion
AIR•AAR said it will acquire a 65% controlling interest in MRO Holdings for about $1.8 billion. It expects the deal to close in its fiscal third quarter ending February 2027, subject to approvals and other customary conditions.
1. Deal details
AAR will acquire a 65% controlling interest in MRO Holdings, with an option to buy the remaining 35% within six years of closing. AAR expects to fund the transaction with new debt, about $780 million in equity issued to existing MRO Holdings shareholders, and proceeds from a private investment in public equity offering.
2. Combined maintenance capacity
AAR CEO John Holmes said the companies would create the world’s largest heavy maintenance MRO, servicing nearly 3,000 aircraft per year in their hangars. MRO Holdings operates maintenance and modification facilities in the United States, Mexico, El Salvador and Colombia, and about 90% of its revenue comes from US customers.
