Aviation Worldwide Services Acquired by AAR
AAR has signed an agreement to acquire Aviation Worldwide Services (AWS) from Xe Services (formerly Blackwater USA). AWS provides expeditionary airlift services and aircraft modifications to the U.S. and other government customers. According to a company spokesman, AAR is acquiring the business as part of its long-term strategy to expand its products, services and capabilities in support of government customers in the U.S. and abroad. AWS subsidiaries Presidential Airways and STI Aviation support U.S. defense and state department personnel and cargo transport operations in fixed- and rotary-wing aircraft and offer helicopter modification programs for government customers. The purchase includes EP Aviation, which leases aircraft to AWS. “The market for government aviation services represents a tremendous growth opportunity as our country provides resources and support for developing nations and other national interests,” said David Storch, AAR’s chairman and CEO. “Further, we expect to improve the operational efficiency of the new business by leveraging our extensive supply chain, maintenance and export capabilities.” The purchase price of the acquisition is $200 million.