AAR CORP acquired Trax USA Corp. for $120 million cash plus contingent consideration of up to $20 million (earn-out), a transaction completed in March 2023, structured as cash plus contingent consideration.
Trax USA Corp. operates in Aviation Services (MRO and fleet-management software), is based in Miami, Florida, USA. AAR acquired Trax USA Corp., a leading independent provider of aircraft MRO and fleet-management software. Founded in 1999 and headquartered in Miami with about 110 employees, Trax serves airlines, MROs and government aircraft operators supporting roughly 5,000 aircraft. Its eMRO product is a web-based enterprise MRO software solution and its eMobility suite provides mobile applications including electronic task cards, digital manuals and log books.
Accelerated AAR's strategy to offer digital solutions to aftermarket customers and added higher-margin software offerings with intellectual property and recurring revenue; expected to be accretive to Adjusted EPS in the first full year.
Higher-margin software with recurring revenue and a complementary global airline/MRO customer base enabling cross-selling of AAR parts and services. Cross-sell of AAR parts and services to Trax's airline and MRO customer base. Aviation Services segment
By combining two leading independent aftermarket services providers, we create a compelling and unique offering to support the global aviation industry. Trax is the materials management system used by thousands of buyers and planners at airlines around the world.John M. Holmes, Chairman, President and CEO, AAR CORP.
Trax has led the industry in developing next generation maintenance ERP systems for over 20 years. We are excited to partner with AAR to further accelerate Trax's growth and development.Jose Almeida, CEO, Trax
Advisory firms were not disclosed for this transaction.