AAR completes acquisition of Triumph’s product support business

Aviation services company AAR has completed its acquisition of Triumph Group’s product support business, which is a global provider of MRO services in the commercial and defence markets. It has also amended its existing revolving credit facility, upsizing it from $620 million to $825 million. AAR had announced in December last year that it had entered into a definitive agreement to acquire the product support business for $725 million in cash. Triumph said the net after-tax proceeds would be around $700 million and would be primarily used to reduce its debt. “By strengthening our balance sheet and focusing on our