secwatch.observer — SEC 8-K summary
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Issuer:     AAR CORP (AIR)
CIK:        0000001750
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0001104659-23-127977
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AAR agrees to acquire Triumph Product Support for $725M cash; 20% EBITDA margin
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- Deal valued at $725M cash; expected tax benefits of ~$80M present value.
- Triumph Product Support FY2024E revenue ~$280M, EBITDA ~$55M (20% margin).
- Effective purchase price multiple of 11.7x EBITDA; 9.9x including $10M run-rate cost synergies.
- Expected to be accretive to margins and adjusted EPS in first full fiscal year.
- Closing targeted in Q1 2024; bridge financing committed; net leverage ~3.0x at close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750/000110465923127977/0001104659-23-127977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750/000110465923127977/tm2333067d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-127977

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