AAR Acquires HAECO Americas
AAR has acquired HAECO Americas for $78 million in an all-cash transaction, 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," - John Holmes, AAR's chairman, president and CEO.
- HAECO Americas operates five hangars in Greensboro, North Carolina.
- HAECO Americas operates seven hangars in Lake City, Florida.
AAR describes HAECO as "the second largest heavy maintenance provider in North America behind AAR.
Autor's resume: AAR expands maintenance capacity.
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