April 17, 2001
Michael N. Beckstead Joins AAR as President, Distribution
WOOD DALE, Ill., /PRNewswire/ -- AAR (NYSE: AIR) announced today that Michael N. Beckstead has joined AAR as President and General Manager, AAR Distribution reporting to Joe Gullion. In his new role, he will be responsible for the Company's new parts distribution operations in Elk Grove Village, Illinois.
"We are pleased that Mike has joined AAR," said AAR President and CEO, David P. Storch. "Our goal is to continually develop dynamic leaders to keep the Company at the forefront of the aviation services industry. The addition of Mike, along with Joe last month, helps strengthen our leadership team as we move forward and position AAR for the future."
Beckstead brings more than 19 years of broad-based experience, including positions in business development, logistics, strategic planning, sales and finance for Honeywell and Navistar International. Most recently, Beckstead was Group Director, Business Development for Honeywell's Aerospace Services Group.
AAR Distribution provides high-quality, factory-new products to the commercial, regional, business and general aviation markets. AAR is the preeminent provider of products and value-added services to the worldwide aerospace/aviation industry. Products and services include proprietary inventory management and logistic support services, encompassing supply, repair and manufacture of spare parts and systems. Headquartered in Wood Dale, Illinois, AAR serves commercial and government aircraft fleet operators and independent service customers throughout the world. Further information can be found at www.aarcorp.com.
SOURCE AAR CORP.
CONTACT: Dawn Kaiser, AAR Investor Relations, 630-227-2098, or dkaiser@aarcorp.com
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AAR announces pricing of public offering of 3,000,000 shares of common stock
Wood Dale, Illinois – AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today the pricing of an underwritten registered public offering of 3,000,000 shares of its common stock at a public offering price of $83.00 per share. The underwriters have a 30-day option to purchase up to an additional 450,000 shares from the Company at the public offering price. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions, will be approximately $239.0 million, or $274.9 million if the underwriters exercise their option to purchase additional shares in full. The shares are expected to be delivered on or about October 2, 2025, subject to customary closing conditions.
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AAR acquires leading parts distributor ADI American Distributors
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today it has acquired American Distributors Holding Co., LLC (ADI), a leading distributor of components and assemblies, for $146 million in an all cash transaction funded using the Company’s existing revolving credit facility. The acquisition immediately expands AAR’s new parts Distribution with new additional product lines and extensive OEM relationships. The business will become part of AAR’s Parts Supply segment.
