AAR Corp. acquired Miami-based third-party MRO provider Avborne Heavy Maintenance and renamed it AAR Aircraft Services-Miami. Avborne offered maintenance checks, modifications, installations and painting services to commercial airlines, international cargo carriers and major aircraft leasing companies.

Financial terms of the deal were not disclosed, but AAR will gain 226,000 sq. ft. of hangar space at Miami International and increase its overall MRO space by 22%.

"Strategically, this acquisition provides an expansion to our MRO footprint by providing a fourth location for commercial airframe maintenance," AAR VP and CFO Richard J. Poulton told Airline Procurement. "Combined with our other three locations, this will make AAR the largest independent airframe overhaul provider in the US."

The deal also adds 467 aviation maintenance technicians to a workforce that now numbers more than 2,000 AMTs worldwide. Over the past three years, AAR's MRO segment has seen a 26% compound annual growth rate, according to a recent survey. It also operates MRO facilities in Hot Springs, Indianapolis and Oklahoma City.

"We're very impressed with the strong management team, skilled workforce and the high levels of customer satisfaction that they've achieved at Avborne," AAR Chairman and CEO David Storch said. "The acquisition expands our capacity and capabilities at a time when airlines are seeking ways to operate more efficiently, lower their operating expenses and combat the rising cost of fuel."

AAR's new space can accommodate three widebodies or nine narrowbodies, allowing for heavy maintenance on most types of Airbus and Boeing aircraft.