Could AAR Be Eyeing Another Acquisition?
Summary
AAR purchased Triumph Group’s product support business on March 1 for $725 million. The deal included repairs for about 10,000 part numbers in Air Transport Association chapters and five facilities—four in the U.S. and one in Thailand. On March 20, it acquired Trax, an MRO software company, for $120 million to improve its internal efficiencies and develop new digital sources of revenue. Since Holmes became CEO six years ago, “This was literally the fourth written offer that I sent to Dan Crowley, the CEO of Triumph, offering to acquire that business because we felt for a lot of reasons that represented a great fit,” he says. “We’ve deployed more capital than ever, in terms of inorganic growth at the company, so the focus right now is to absolutely make sure that these investments are a success and the integration goes well,” Holmes says.