Deals
AAR to Buy 65% of MRO Holdings at a $4 Billion Enterprise Value, Creating the Largest Heavy Maintenance Provider
The deal is priced at 10.7 times forecast 2026 adjusted EBITDA including synergies, funded with $2.1 billion of new debt, $780 million of stock to sellers and a $230 million PIPE.
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By Anna Ferreira
Sep 29, 2026 · 6 min read
AAR Corp. has agreed to acquire a 65% controlling interest in MRO Holdings at an implied enterprise value of $4.0 billion, the aviation services company said Monday, in the largest transaction in its history. AAR filed a Form 8-K on Tuesday reporting the entry into the material agreement, the associated unregistered equity sale and the related exhibits.
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Anna Ferreira
Senior Correspondent, Corporate Strategy
Anna Ferreira writes for Corporate Insider Inc.