AAR acquires HAECO Americas for $80M; secures over $850M in multi-year MRO contracts

AAR CORP

Acquisition of HAECO Americas for $80M in cash (subject to adjustments); funded via existing credit facility.
HAECO Americas is second largest heavy MRO provider in North America; adds facilities in Greensboro, NC and Lake City, FL.
Multi-year heavy maintenance contracts with key customers worth over $850M effectively sell out the two new facilities.
Transaction initially slightly dilutive to margins; expected to achieve AAR's current Airframe MRO operating margins post-integration.
HAECO Americas brings over 1,600 employees, 30% veterans; AAR to apply its operating model for efficiency gains.

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