AAR Corp. (AIR) announced it has acquired HAECO Americas from HAECO Group for $78M in an all-cash transaction, subject to customary adjustments. The acquisition immediately expands AAR’s maintenance footprint and accelerates the company’s strategic objective to grow its Repair & Engineering segment. The purchase price represents a high single-digit multiple of last twelve months EBITDA before the impact of any synergies. HAECO Americas is the second largest heavy maintenance provider in North America behind AAR. The business performs heavy aircraft maintenance, repair, and overhaul and modification services at two facilities, one in Greensboro, North Carolina, and one in Lake City, Florida, for leading commercial airlines.
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