AAR has acquired HAECO Americas for $78 million in an all-cash transaction, significantly expanding its heavy maintenance capacity in the U.S.
The acquisition price represents a "high single-digit multiple of the last 12 months of EBITDA."
"We have secured agreements with key customers, totaling over $850 million in sales over a multi-year period,"
says John Holmes, AAR's chairman, president and CEO. HAECO Americas operates five hangars in Greensboro, North Carolina, and seven in Lake City, Florida.
AAR describes HAECO as "the second largest heavy maintenance provider in North America behind AAR."
AAR expands capacity at high demand time.
Author summary: AAR acquires HAECO Americas for $78 million.