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Latham & Watkins Advises AAR in Acquisition of Triumph Group's Product Support Business

December 21, 2023
Firm represents global aerospace and defense aftermarket solutions company on transaction to expand customer base and global footprint.

Latham & Watkins LLP advised AAR CORP. (NYSE: AIR), a global aerospace and defense aftermarket solutions company, in its agreement to acquire Triumph Group’s (NYSE: TGI) Product Support business. The Product Support business is a leading global provider of specialized MRO capabilities for critical aircraft components in the commercial and defense markets, and services both the commercial and military aftermarkets across five primary locations with a highly skilled workforce. The acquisition is anticipated to close in the first quarter of 2024, subject to customary closing conditions. AAR expects to fund the US$725 million cash purchase price for the acquisition with a mix of new debt and equity financings and has also secured a debt financing commitment to backstop the new financings.

Headquartered in the Chicago area, AAR has operations in over 20 countries and supports commercial and government customers with approximately 5,000 employees worldwide. The acquisition will expand AAR’s global footprint and offerings, including through the Product Support business’s primary locations in North America and Asia.

Latham & Watkins LLP is advising AAR in the transaction with a corporate deal team led by partners Brad Faris and Jason Morelli, with associates Lucy Chauvin, Katie Connelly, and Mariah Levy. Advice was also provided on capital markets and financing matters by partners Cathy Birkeland, Roderick Branch, and Cindy Caillavet, with associates Katherine Stork and Andrew Rutsky; on tax matters by partner Diana Doyle, with associate Chris Ohlgart; on employee benefits matters by partner Benjamin Rosemergy, with associates Juliet Rognlie and Kevin Matheny; on labor and employment matters by associate Laura Waller; on real estate matters by partner Robert Fernandez, with associate Cristian Kelly; on environmental matters by partner Joshua Marnitz, with associate De Vann Sago; on intellectual property matters by partner Jeffrey Tochner, with associates Matthew Snyder, Sebastian Moss, and Ece Gonulal; on data privacy matters by partner Robert Blamires, with associate Kathryn Parsons-Reponte; on insurance matters by partner Drew Levin, with associate Hannah Cary; on antitrust matters by partner Joshua Holian and counsel Britton Davis, with associate Hanna Nunez Tse; on trade controls / sanctions matters by partner Damara Chambers, with associate Allison Hugi; and on government contracts matters by partner Kyle Jefcoat, with associate Blake Page.