AAR Acquires HAECO Americas
AAR has acquired HAECO Americas for $78 million in an all-cash transaction.
This deal significantly expands its heavy maintenance capacity in the U.S.
- Price represents a “high single-digit multiple of the last 12 months of EBITDA”
- Secured agreements with key customers, totaling over $850 million in sales
“We have secured agreements with key customers, totaling over $850 million in sales over a multi-year period” - 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.
Author's summary: AAR expands maintenance capacity.
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