AAR

Management has emphasized disciplined M&A to build a differentiated parts-repair-software platform. In FY2026 AAR acquired ADI (distribution), HAECO Americas (airframe MRO capacity), Aerostrat (planning software), and Aircraft Reconfig Technologies (engineering with ODA), while exiting lower-return landing gear overhaul.

Earlier, the March 2024 Triumph Product Support deal scaled component services. Repurchases were paused in FY2026 while leverage normalized and integration progressed. This record suggests thoughtful deployment with attention to returns and balance-sheet strength. Key watch items are integration execution and cash conversion.