AAR Reaches Agreement With Triumph Group To Purchase Triumph Product Support

(RTTNews) - AAR CORP. (AIR) has entered into a definitive agreement with Triumph Group (TGI) to purchase Triumph Product Support for $725 million. Also, AAR expects to receive estimated tax benefits with a present value of approximately $80 million.

Triumph Product Support is a global provider of specialized maintenance, repair, and overhaul capabilities for critical aircraft components in the commercial and defense markets. It provides MRO services for structural components, engine and airframe accessories, interior refurbishment, and wheels and brakes. Triumph Product Support designs proprietary designated engineering representative repairs and Parts Manufacturer Approval parts.

AAR said the acquisition is supported by a fully committed bridge facility.