AAR CORP acquires Avborne Heavy Maintenance, Inc.

AAR CORP acquired Avborne Heavy Maintenance, Inc. for Approximately $40 million ($15 million cash plus assumption of a $25 million industrial revenue bond), a transaction completed in March 2008, structured as cash plus assumed debt.

Avborne Heavy Maintenance, Inc. operates in Maintenance, Repair and Overhaul, is based in Miami International Airport, Florida, USA, had revenue of about Contributed approximately $16 million of revenue during the remainder of fiscal 2008 after the March 2008 close.. AAR acquired Avborne Heavy Maintenance, Inc. and a related entity from AHM Holding, Corp. Founded in 1985, Avborne is an independent provider of aircraft heavy maintenance checks, modifications, installations and painting services to commercial airlines, international cargo carriers and major aircraft leasing companies, operating from a 226,000-square-foot hangar at Miami International Airport capable of accommodating up to three wide-body or nine narrow-body aircraft simultaneously.

Expanded AAR's airframe heavy-maintenance footprint into the Miami market, complementing existing MRO facilities in Indianapolis, Oklahoma City and Hot Springs.

226,000-square-foot hangar able to service up to three wide-body or nine narrow-body aircraft simultaneously. Maintenance, Repair and Overhaul segment

Advisory firms were not disclosed for this transaction.