AAR CORP acquired Aviation Worldwide Services (AWS) for Approximately $200 million, a transaction completed in April 2010, structured as cash.
Aviation Worldwide Services (AWS) operates in Government and defense services (expeditionary airlift), is based in United States (global government deployments). AAR acquired Aviation Worldwide Services, a leading provider of expeditionary airlift services and aircraft modifications to the U.S. and other government customers, from Xe Services LLC. AWS operates through subsidiaries Presidential Airways and STI Aviation, providing fixed- and rotary-wing flight operations transporting personnel and cargo for U.S. Department of Defense and Department of State deployments, plus engineering and design modifications on rotary-wing aircraft. AWS operated a fleet of 58 customized aircraft at the time of the deal.
Advanced AAR's long-term strategy to expand products, services and capabilities supporting U.S. and allied government customers, adding mission-critical airlift and modification capability.
Fleet of 58 customized aircraft with FAR Part 125/133/135 and Part 145 certificates; Presidential Airways CARB-certified with the U.S. Department of Defense. Leverages AAR's existing aircraft maintenance and supply-chain/logistics businesses. AAR Airlift, LLC (government services)
This acquisition represents a significant milestone in the expansion of AAR's value-added capabilities for government customers. We have a longstanding track record as a trusted provider of mission-critical products and services and are confident that the successful integration of AWS will strengthen AAR's ability to support national defense priorities.David P. Storch, Chairman and CEO, AAR CORP.
Advisory firms were not disclosed for this transaction.