AAR has increased commitments under its unsecured revolving credit facility by $550 million to $1.375 billion and extended its maturity from December 2027 to October 2031.

Bain capital-backed MRO Holdings sells 65% stake to AAR in $4B deal. AAR CORP., which provides aviation aftermarket parts, repair and software services, agreed to acquire a 65 percent controlling interest in MRO Holdings, a Bain Capital-backed aircraft maintenance provider, at an implied enterprise value of $4 billion. AAR (NYSE: AIR) will initially acquire the 65 percent stake for approximately $1.8 billion in equity value and repay about $1.3 billion of MRO Holdings' existing borrowings. MRO Holdings is a global aircraft maintenance, repair and overhaul provider with approximately 10,000 employees and 115 lines of airframe maintenance capacity across facilities in the U.S., Mexico, El Salvador and Colombia. The company performs aircraft maintenance and modifications, with roughly 90% of revenue coming from U.S. customers. Bain Capital, which invested in MRO Holdings as a significant minority shareholder, will remain invested following the transaction. Goldman Sachs, William Blair and Centerview Partners are financial advisors to AAR, with Kirkland & Ellis serving as legal counsel; Goldman Sachs Bank USA and Wells Fargo Securities are underwriting the committed debt financing, while Goldman Sachs is the PIPE's exclusive placement agent. Solomon Partners is financial advisor to MRO Holdings, RBC Capital Markets is also advising the company, and Greenberg Traurig is legal counsel. PE-Backed Waverly Advisors Buys Heartwood Wealth Advisors The acquisition expands Waverly's presence in Virginia. To read the entire story, you must be logged in. Avesi Partners Invests in New Age Medical New Age Medical is a St. Louis-based MedTech platform serving the spinal surgery market. To read the entire story, you must be logged in. Caterpillar Acquires John Fabick Tractor Company The company provides Caterpillar equipment, services, technology and related expertise to customers throughout its markets. To read the entire story, you must be logged in. Long Lake Management Completes $6.3B Acquisition of Amex GBT Amex GBT provides software and services for travel, expense and meetings and events management. To read the entire story, you must be logged in.

HAECO Americas' parent company AAR plans to take majority stake in MRO Holdings. AAR Corp., owner and operator of Greensboro-based HAECO Americas, plans to spend $4 billion acquire a 65% ownership stake in MRO Holdings. The manufacturer, based in Wood Dale, Ill., provides aviation services, including parts and repairs, to commercial, and state and federal government customers. In November, AAR purchased HAECO, a longtime Piedmont Triad International Airport anchor, for $78 million to combine the nation's two largest heavy aircraft maintenance, repair and overhaul (MRO) companies. AAR gained a combined 1,600 workforce at PTI and in Lake City, Fla. People are also reading... The 65% ownership acquisition of MRO is projected to close in February. AAR is paying $1.8 billion for the 65% stake, along with repaying $1.3 billion worth of MRO debt. AAR expects to fund the transaction, including related expenses, through $2.1 billion of new debt. AAR will have the option to acquire the remaining 35% ownership interest of MRO Holdings within a six-year window following the closing of the transaction. MRO Holdings is a leading global MRO company founded in the 1980s with more than 10,000 employees in the U.S., Colombia, El Salvador and Mexico and 115 lines of airframe maintenance capacity. About 90% of MRO Holdings' $1 billion in projected fiscal 2026 revenue is from sales to U.S. customers. AAR reported for fiscal 2026 - which ended on May 31 - a total of $187.7 million in net income and sales of $3.31 billion. HAECO Americas had $131.1 million in fiscal 2026 sales. AAR said the 65% ownership stake in MRO Holdings "will expand and strengthen its aviation aftermarket platform and create significant additional growth opportunities across the company's core parts, repair and software activities." That includes servicing more European and Middle Eastern airline fleets with routes in the Americas. "Over the last several years, AAR has taken important steps to reshape our portfolio into an integrated Parts, Repair, and Software aviation aftermarket platform," said John Holmes, AAR's chairman, president and chief executive. "Through the acquisition of MRO Holdings, we will create the largest heavy maintenance MRO in the world, servicing a combined total of nearly 3,000 aircraft per year in our hangars." Holmes added that AAR "will have a much larger channel for new and existing OEM distribution relationships, and we will have additional avenues for data collection supporting our software business." AAR expects to generate $75 million of run-rate cost savings from the acquisition. "The acquisition further strengthens our ability to generate above-market sales growth," Holmes said. "The cash generated by the combination of AAR and MRO Holdings will be substantial, allowing the company to quickly de-lever and retain future financial flexibility." Roberto Kriete, MRO's chairman, said that by "combining our technical expertise and customer relationships with AAR's broader aftermarket capabilities, it will strengthen our value proposition and support continued investment in our people, capabilities, and facilities." Truist Securities analyst Alexandra Mandery said in July that AAR appears ahead of schedule in integrating HAECO Americas' operations by early 2027. The HAECO Americas purchase was part of a fiscal 2026 commitment to "expand both our capabilities and footprint in Repair & Engineering," Holmes said. HAECO Americas focuses primarily on commercial passenger aircraft with American and Southwest airlines among its customers. HAECO also installs and maintains interior cabin equipment. HAECO Americas operations are now part of AAR's Airframe MRO network within its Repair & Engineering segment. The HAECO Americas facilities will operate under AAR branding. However, AAR said in a December statement that "prior to AAR's acquisition of HAECO Americas, four maintenance lines were scaled back at the facilities." "To right size the workforce for the current workload, we made the difficult decision to separate some employees and contractors from the company." In December, AAR announced plans to pay $35 million for Aircraft Reconfig Technologies, which operates from 8010 Piedmont Triad Parkway in Greensboro with about 100 full-time employees. The purchase was completed in April. Aircraft Reconfig specializes in passenger aircraft reconfiguration for global airlines, including Air India, Air New Zealand, Alaska, American, Iberia, Sun Country and Swiss. It also offers project management, engineering and certification for aircraft interior reconfigurations. 336-727-7376