AAR accelerates its aftermarket platform strategy by agreeing to acquire a controlling interest in MRO Holdings

AAR accelerates its aftermarket platform strategy by agreeing to acquire a controlling interest in MRO Holdings PR Newswire

* Acquisition significantly enhances AAR's scale, margins, and cash flow profile * Adds more than $1 billion in revenue supporting blue-chip, U.S. airline customers * Expands AAR's consolidated adjusted EBITDA margins(1) from approximately 12% to 16%, before synergies * Expected to be accretive to adjusted EPS in the first full fiscal year post closing * Updating AAR's adjusted EBITDA margin target to approximately 19% to 20% within three to four years WOOD DALE, Ill., Sept. 28, 2026 /PRNewswire/ -- AAR CORP. (NYSE: AIR) (the "Company" or "AAR"), a leading Parts, Repair, and Software platform in the aviation aftermarket, today announced it has entered into a definitive agreement to acquire a 65% controlling interest in MRO Holdings at an implied enterprise value of $4.0 billion. This represents 10.7x MRO Holdings' forecasted full calendar year 2026 adjusted EBITDA, including $75 million in anticipated run-rate cost synergies and net of transaction-related tax benefits with an expected present value of approximately $150 million. The transaction will expand and strengthen AAR's leading aviation aftermarket platform and create significant additional growth opportunities across the Company's core Parts, Repair, and Software activities. The combination creates advantages for AAR's customers as the Company will offer a broader range of maintenance solutions.