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AAR Prices Upsized Offering of Senior Notes to Finance Triumph Product Support Acquisition

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WOOD DALE, Ill., Feb. 14, 2024 /PRNewswire/ — AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, announced today that AAR Escrow Issuer, LLC, a wholly owned, unrestricted subsidiary of the Company (the “Escrow Issuer”), has successfully priced its offering of $550 million aggregate principal amount of 6.750% senior notes due 2029 (the “Notes”). The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes. The Notes will bear interest at a fixed annual rate of 6.750% and will mature on March 15, 2029. The offering is expected to close on March 1, 2024, subject to customary closing conditions.

The Company intends to use the net proceeds of the senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group’s (NYSE: TGI) Product Support business (the “Triumph Product Support Acquisition”).

Substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Company intends to amend its revolving credit facility (the “Revolving Credit Facility”) to, among other things, increase the aggregate lending commitments thereunder from $620 million to at least $795 million. The Company intends to fund the balance of the acquisition consideration with cash on hand and borrowings under the Revolving Credit Facility, as amended.

If the senior notes offering closes prior to the consummation of the Triumph Product Support Acquisition, (1) the gross proceeds from the offering will be deposited into an escrow account for the benefit of the holders of the Notes until the date on which certain escrow conditions are satisfied, including the closing of the Triumph Product Support Acquisition, and (2) the Notes will be subject to a special mandatory redemption at a price equal to 100% of the initial issue price of the Notes, plus accrued and unpaid interest, if any, from the issue date of the Notes, to, but excluding, the date of the special mandatory redemption. If the senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.

Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer. Substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Escrow Issuer will merge with and into the Company, with the Company continuing as the surviving entity. The Company will then assume the obligations of the Escrow Issuer under the Notes and the indenture governing the Notes, and the Notes will be fully and unconditionally guaranteed by each of the Company’s subsidiaries that guarantee the Company’s obligations under the Revolving Credit Facility.

The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), any state securities laws or the securities laws of any other jurisdiction. The Notes and the related guarantees may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration or pursuant to an exemption from, or in a transaction not subject to, registration. The Notes and related guarantees will be offered and sold only to persons reasonably believed to be “qualified institutional buyers” in accordance with Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

This press release is neither an offer to sell, nor the solicitation of an offer to buy, the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

About AAR

AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions and Expeditionary Services.

Forward-Looking Statements

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and which reflect management’s expectations about future conditions, including but not limited to the pending Triumph Product Support Acquisition. Forward-looking statements often address our expected future operating and financial performance and financial condition, or sustainability targets, goals, commitments and other business plans, and often may also be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would” or similar expressions and the negatives of those terms.

Factors that may cause actual results to differ materially from current expectations include, among others, risks associated with the Company’s ability to consummate the Triumph Product Support Acquisition and the timing of the Triumph Product Support Acquisition; risks and uncertainties related to general market conditions and the completion of the senior notes offering on the anticipated terms, or at all, and the Company’s entry into the proposed amendment to the Revolving Credit Facility; the Company’s ability to successfully integrate the acquired business; the Company’s ability to realize the anticipated benefits and synergies of the Triumph Product Support Acquisition as rapidly or to the extent anticipated; risks related to the Company’s ability to obtain any contemplated financing on favorable terms, or at all; the amount of costs, fees and expenses related to the Triumph Product Support Acquisition; and other factors that could affect the Company’s business. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as the Company’s other subsequent filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described and the anticipated benefits of the Triumph Product Support Acquisition may not be realized. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

Contact:

Dylan Wolin
Vice President, Strategic & Corporate Development and Treasurer
+1-630-227-2017
dylan.wolin@aarcorp.com 

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SOURCE AAR CORP.

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Gusto Unveils New Tools to Help Small Businesses Start, Run, and Grow From Day One

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40 minutes ago

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October 22, 2026

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Fall Showcase 2026 introduces LLC formation and a business bank account,1 AI connectors, expanded compliance and payroll tools, new benefits and HR support, and the company’s biggest-ever updates for accountants

SAN FRANCISCO, Oct. 22, 2026 /PRNewswire/ — Gusto, the small business platform for payroll, benefits, and HR, today announced new products and features at its Fall Showcase, designed to help small business owners start, run, and grow.

Every day, Gusto helps more than half a million small businesses pay their teams, stay compliant, and offer benefits. The announcements take aim at what owners face: serving customers, managing finances, keeping up with compliance, competing for talent, and making sense of AI, often all at once.

“Small business owners wear every hat, and they shouldn’t have to carry every burden too,” said Chris Cosgrove, Chief Product Officer at Gusto. “Our goal is to make the hard things easier, starting on day one.”

Start: Help before the first hire

Owners can now form an LLC, open a business bank account,1 and see where their money stands in Gusto, before they hire anyone. Because it all lives in the same place they’ll later hire, pay, and grow, there’s no need to start over down the road.

“Starting a business has typically meant figuring it out alone, and every one of those steps is a place where a good idea can stall,” said Cosgrove. “Our bet is simple: if it’s easier to get started, more people will, and more of them will succeed.”

Run: Less risk, less busywork

Growth for a small business means more complexity and behind-the-scenes work. Gusto’s new features help owners stay compliant, automate payroll and contractor payments, and put AI to work on time-consuming tasks.

Gusto Business Compliance handles obligations that trip up owners, especially when they hire in a new state, including state tax registration, annual report filing, and government mail monitoring.Multi-location payroll runs one payroll for hourly employees who work across state or city lines, calculating and filing taxes for each work location.Intelligent payroll automations gather hours, flag anomalies, anything unusual, and turn payroll into a quick review and sign-off.More control over pay, with same-day pay for off-cycle bonuses and corrections for eligible businesses, custom semi-monthly schedules, and printed, mailed paychecks with delivery tracking.Contractor tools that let owners hire and pay U.S. and international contractors on one platform. With invoice ingestion, Gusto reads an uploaded invoice and prefills the paysheet for review and approval.Project tracking lets owners tag hours to projects, clients, and tasks and see the true labor cost of every job.

Owners can now connect Gusto to Claude, ChatGPT, and other AI tools to ask questions about payroll and teams, prep payroll, and generate reports. Owners have full transparency and control over the output, with the ability to approve every change before it’s final. Developers and power users can also connect through Gusto’s MCP server or install the Gusto CLI in one command, so an agent can prepare what it can before each payroll and send a prioritized list of decisions that need the owner’s approval.

“Owners shouldn’t have to learn a new tool to put AI to work. Gusto works where they already do,” said Cosgrove. “AI does the prep, and the owner stays in control of every decision.”

Grow: Benefits, guidance, and HR support

Great benefits help business owners hire and keep great people, but most don’t have an HR department to lean on. Gusto is putting that expertise inside its platform, so owners can invest in their teams for the long term.

Gus, the AI Benefits Assistant gives personalized, real-time guidance on benefits and builds a ready-to-submit package covering medical, dental, vision, and more. A licensed advisor reviews it before anything is finalized.Gusto 401(k), built into Gusto helps business owners manage retirement plans directly on Gusto, without switching platforms.Health Reimbursement Arrangements (HRAs) give employees the flexibility to choose health coverage that works for them, while employers maintain complete control over costs by setting a monthly allowance. Employers can seamlessly manage reimbursements alongside payroll in Gusto.Voluntary Life & Disability benefits provide employee-paid coverage added through automatic payroll deductions, at no additional direct cost to the business.Guided benefits renewal provides cost-optimized options, side-by-side comparisons, and direct access to a licensed benefits advisor.New HR resources let owners build an employee handbook and generate documents like performance improvement plans and termination letters. Owners also get proactive alerts when employment laws change, written answers from a human HR expert, and instant answers from Gus.Gusto HR Partners gives you access to an experienced, fractional HR professional without the cost of a full-time hire.Gusto Professional Employer Organization (PEO) helps take on much of the day-to-day HR, payroll, benefits, and compliance work for small business owners.

Gusto, built for accountants that support small businesses

Today, more than two-thirds of small businesses on Gusto have the support of a Gusto accounting partner. These firms play a vital role in advising and supporting small businesses. That’s why Gusto has announced its biggest-ever updates for accountants, including:

A redesigned Gusto Pro dashboard with AI-assisted workflows.A Multi-Client MCP that lets firms work across selected clients in a single AI conversation.An expanded Partner Program with Marketing and Partner Development Funds.Solo Advisory Tools, helping firms advise solopreneur clients with calculators for S-corp election and reasonable compensation estimates.

To learn more, visit Gusto’s Fall Showcase.

1 Gusto is a financial technology company, not a bank. Banking services provided by Increase Bank, Member FDIC.

About Gusto

Gusto takes the guesswork out of running a small business. From forming a company to paying a team to staying on top of compliance, Gusto simplifies payroll, benefits, HR, and money management so business owners can get back to the work that matters most. Founded in 2011, Gusto supports more than 500,000 small businesses from offices in San Francisco, New York, and Denver. Learn more about Gusto’s mission to grow the small business economy with technology and heart at gusto.com.

Media Contact:
Candice So
press@gusto.com

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SOURCE Gusto, Inc.

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Fortera and MLC Select Ste. Genevieve, Mo. for First Commercial CO₂-to-Cement Plant

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October 22, 2026

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Fortera to launch patented sustainable cement technology, producing 300,000 tons of ReAct® cement annually using carbon captured from MLC’s lime production

STE. GENEVIEVE, Mo., Oct. 22, 2026 /CNW/ — Fortera and MLC plan to build Fortera’s first commercial low-carbon cement plant at MLC’s Ste. Genevieve site. The plant would capture CO₂ emitted by MLC’s lime production and transform it into a reactive cement that is nearly 50% captured CO₂ by weight.

Fortera’s patented sustainable cement technology will produce 300,000 tons of ReAct® cement annually

The Ste. Genevieve operation was selected due to its scale and strategic location. Situated in the Central Midwest on the Mississippi River, the site enables economical delivery across most of the U.S. and internationally. Adding domestic cement supply also reduces U.S. reliance on foreign imports, which account for 21% of consumption, according to the 2025 U.S. Geological Survey.

ReAct cement is one of the most consequential cement innovations in generations, introducing a fundamentally new way to manufacture an essential building material that meets or exceeds traditional cement’s performance.

By transforming captured CO₂ from lime production into value-added cement, this project offers an approach to reduce the carbon footprint of two critical, hard-to-abate industries. Cement accounts for 8% of the world’s greenhouse gas emissions (according to the U.S. Department of Energy), so innovations have the potential to meaningfully impact global climate change.

“The Ste. Genevieve plant marks a new era for American cement production, one where technology turns emissions into a high-quality product the market needs while creating lasting local jobs,” said Ryan Gilliam, CEO and co-founder of Fortera. “Building alongside the largest lime operation in the Americas lets us turn an existing emissions stream into hundreds of thousands of tons of cement to meet demand that already exists.”

This project is also significant for the lime industry because it provides a scalable solution to capture and re-use CO2 released by limestone during calcination, which generates roughly 60% of scope-1 emissions. The National Lime Association (NLA) aims to decarbonize the U.S. lime industry by 2050; meeting that goal requires innovation in low carbon technologies.

“While MLC has reduced our carbon footprint by 8% since 2022, and I am proud of that progress, current technologies will only take us so far. Lime producers need practical solutions to capture calcination emissions,” said Paul Hogan, CEO of MLC and current serving president of the NLA. “Fortera has developed an innovative approach that not only reduces the amount of carbon we release — it also turns it into a valuable product.”

The cement manufactured at the Ste. Genevieve plant is planned to be used across the Midwest, including by Ozinga, a fifth-generation, family-owned concrete and building materials company.

“Scaling the next generation of cement requires more than innovative technology; it requires strong partnerships across our industry,” said Marty Ozinga, CEO of Ozinga. “Fortera’s ongoing work with Ozinga represents the kind of collaboration needed to bring lower-carbon cement solutions to commercial scale while strengthening domestic manufacturing and ensuring we can continue to deliver the performance and reliability our customers expect.”

About Fortera
Fortera is revolutionizing the global construction industry. The company’s proprietary ReCarb technology integrates seamlessly with existing cement and lime facilities, allowing partners to keep their kilns, make full use of their limestone, and leverage their established distribution networks. Fortera’s breakthrough approach transforms waste CO₂ into productive feedstock, enabling plants to produce more from existing resources. The company has proven it can produce cement at cost parity with portland cement while cutting CO₂ emissions by 70%. Fortera operates a 15,000 ton per year facility in Redding, California, regularly placing product in real-world commercial projects, and is executing on a global commercial pipeline that includes the 300,000 ton per year Fortera Cement Plant in Ste. Genevieve, Missouri. For more information on how Fortera delivers proven, cost-competitive, and deployable low-carbon cement technology worldwide, visit forteraglobal.com.

About MLC
For over a century, critical industries have relied on Mississippi Lime Company, LLC (“MLC”) to provide the highest purity lime and calcium products, backed by the most advanced technical services and patented equipment. Lime solutions from MLC play an essential role in drinking water treatment, pollution control, agriculture, and the production of steel, glass, paper, polymers, raw materials, foods, and beverages. MLC has built its reputation on an unwavering commitment to safety, service and performance. The company’s expanding global footprint includes a diversified, reliable network of production and distribution facilities in the U.S. and U.K. MLC is an HBM Holdings company headquartered in St. Louis, Mo.

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SOURCE MLC

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DigiKey Expands its DigiKey Standard Product Portfolio

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40 minutes ago

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October 22, 2026

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New products include ESD protection gear, precision tools and more

THIEF RIVER FALLS, Minn., Oct. 22, 2026 /PRNewswire/ — DigiKey, the global distribution leader of electronic components and automation products, announced it is expanding its DigiKey Standard portfolio with essential tools and ESD-safe products designed to meet the everyday needs of engineers, technicians and makers, delivering quality, reliability and value from a name they trust.

DigiKey created the DigiKey Standard product portfolio to simplify purchasing decisions for engineers by offering a line of dependable products carefully selected and vetted by DigiKey. Selected for reliability and everyday use at an approachable price point, the trusted product line provides tools for design, prototyping, testing and production environments.

“The expansion of the DigiKey Standard product portfolio reinforces DigiKey’s commitment to providing quality, cost-effective and readily available solutions for everyday electronics work,” said Jose Gonzalez, director, new market development for DigiKey. “These new additions, ranging from ESD protection gear to precision tools, address essential needs in prototyping, assembly and repair environments.”

What new products are available in the DigiKey Standard portfolio?

Helping Hands Solder Station: Designed for electronic assembly, repair and precision applications, this soldering station has four flexible arms and alligator clip ends to hold the workpiece at optimal height.ESD Molded Mat: With molded features to organize small parts, components and tools via 20 storage areas, this large ESD silicone mat supports electronic projects, repairs and manufacturing environments.DigiKey Standard Boxes: Available in 15 sizes, DigiKey Standard boxes include a custom-fit breadboard and are ready for prototyping projects.Electrical Testers: Test equipment includes an RMS AC/DC clamp meter for troubleshooting and maintaining electrical systems and a non-contact AC voltage detector.Environmental Testers: These portable environmental testers can check air temperature and relative humidity as well as AC, DC and permanent magnetic fields.Multimeters: The product line includes an industrial digital multimeter, 2000 and 4000AR true RMS autoranging digital multimeters, and a waterproof true RMS digital multimeter with LoZ. 

For more information about the DigiKey Standard portfolio, visit DigiKey.com.

More information about DigiKey Standard

The DigiKey Standard portfolio includes 117 products, from essential tools to ESD-safe products.A total of 14 new DigiKey Standard products released this year include an ESD molded mat, the Helping Hands solder station, a variety of 15 box sizes, environmental testers and electrical testers.

About DigiKey
DigiKey, headquartered in Thief River Falls, Minn., USA, is the global leader in electronic components and automation products distribution. DigiKey offers the broadest and deepest selection of products for fast shipment worldwide, with more than 17.4 million components from over 3,000 trusted manufacturers. More than one million customers each year, including engineers, designers, builders and procurement professionals, makers and students, rely on DigiKey for innovative digital solutions, design tools and frictionless purchasing experiences that simplify every stage of their projects. Discover more about DigiKey’s electronics distribution, automation solutions and design resources at digikey.com and on Facebook, X, YouTube, Instagram and LinkedIn. 

Editorial Contact
Laura Stengrim 
DigiKey 
(218) 681-8000 ext. 14489 
laura.stengrim@digikey.com

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