PUNE, India, Sept. 28, 2026 /PRNewswire/ -- The Global Agrochemicals Market was valued at USD 245.15 Billion in 2025 and is projected to expand at a 4.2% CAGR from 2026 to 2034, reaching USD 355.01 Billion by 2034, according to a new analysis by Maximize Market Research.

Global Agrochemicals Market

The Global Agrochemicals Market Report 2025 provides a detailed analysis of market trends, crop protection demand, fertilizer use, pesticide consumption, agricultural productivity, regulatory developments, sustainable farming practices, competitive strategies, and market forecasts through 2034. Agrochemicals are becoming central to modern farming as growers look for better ways to protect yields, improve soil health, and manage pests, weeds, and diseases. Their role is expanding beyond traditional crop protection into nutrient management, precision farming, and integrated pest management. Farmers are increasingly using these products alongside digital tools and biological solutions to improve efficiency. This shift is helping reduce unnecessary chemical use while supporting better crop performance. Demand is especially strong across cereals, grains, fruits, vegetables, and other high-value crops. As agriculture becomes more technology-driven, agrochemicals are evolving into a key part of smarter and more sustainable farming systems.

The Global Agrochemicals Market is growing as farmers work to produce more food from limited farmland while managing pest pressure, crop diseases, changing weather conditions, and rising demand for better yields. Cereals & grains remain an important area of agrochemical use, supported by widespread cultivation of rice, wheat, corn, barley, oats, and other staple crops. At the same time, demand for herbicides, fungicides, insecticides, fertilizers, seed-treatment products, and crop nutrition solutions continues to grow across major farming economies. Precision agriculture, digital farm management, integrated pest management, and biological crop protection are also changing how agrochemicals are selected and applied, helping farmers improve efficiency while reducing unnecessary chemical use.

Innovation in the Agrochemicals Market is increasingly being shaped by sustainable agriculture, biological crop protection, precision farming, new active ingredients, advanced formulations, digital tools, and more efficient fertilizer use. Leading companies are investing in new herbicides, fungicides, insecticides, biological solutions, seed technologies, and integrated crop-management systems to address resistant weeds, changing pest patterns, and environmental concerns. Recent developments from BASF, Syngenta, Bayer, UPL, and Corteva-linked partnerships show how strongly the industry is moving toward smarter crop protection and more targeted farm solutions. Growing investment in R&D, sustainable formulations, precision application, and farmer-focused technologies is expected to create new opportunities across the Global Agrochemicals Market through 2034.

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The Global Agrochemicals Market is entering a more intelligent phase of growth as crop protection, fertilizer efficiency, precision agriculture, biological solutions, and sustainable farming come together to reshape modern food production. As farmers face greater pressure to protect yields, manage resistant pests, and use resources more carefully, innovation in agrochemicals is becoming central to the future of agriculture: Maximize Market Research reveals the key forces shaping the market through 2034.

Global Agrochemicals Market Size & Forecast

Global Agrochemicals Market Trends & Insights

- Biological crop protection and bioinputs are gaining ground as farmers look for ways to reduce dependence on conventional chemicals while maintaining yields. FAO highlighted bioinputs in 2026 as a strategic response to fertilizer-market volatility and climate pressure, supporting wider interest in biopesticides, biofertilizers, biological crop protection, and integrated pest management.

- Precision agriculture is changing how agrochemicals are applied, with farmers increasingly using sensors, digital platforms, data analytics, targeted spraying, and variable-rate nutrient management. This shift is helping improve fertilizer efficiency, pesticide use, crop protection performance, and farm productivity while reducing unnecessary input use.

- Crop protection innovation is accelerating as pest, weed, and disease pressure remains high. Bayer noted in 2026 that plant diseases and pests can destroy up to 40% of global crops each year, reinforcing demand for advanced herbicides, insecticides, fungicides, seed technologies, and new crop protection modes of action.

- Fertilizer and agrochemical supply chains are becoming more sensitive to energy, trade, and geopolitical risks. FAO's 2026 Food Outlook highlighted continued links between energy and fertilizer markets, while global agriculture remains exposed to weather disruptions, trade uncertainty, and broader economic shocks. This is increasing attention on supply security, pricing, local production, and more efficient fertilizer use.

- Asia Pacific remains a key growth region for the Global Agrochemicals Market, supported by large farming economies, strong cereal and grain production, rising fertilizer demand, and continued need for crop protection. Expanding use of herbicides, fungicides, insecticides, biological crop protection, and precision farming technologies is helping farmers improve productivity while managing pests, diseases, and changing growing conditions more efficiently.

Rising Need to Protect Crop Yields Drives Agrochemicals Market Growth

The growing need to protect crops from weeds, pests, diseases, and climate-related stress is a major driver of the Global Agrochemicals Market. Nearly 40% of global crop yields are lost to pests and diseases each year, while weeds alone can reduce yields by close to 34%. This keeps demand strong for herbicides, insecticides, fungicides, fertilizers, seed-treatment products, and other crop protection solutions. Rising food demand, limited farmland, cereal and grain production, and pressure to improve farm productivity are further supporting agrochemical use across major agricultural regions.

Strict Regulations and Changing Farm Economics Restrain Market Growth

The Agrochemicals Market also faces pressure from tighter pesticide regulations, environmental rules, product restrictions, and changing farm support policies. Europe, in particular, continues to apply stricter standards to crop protection products and agricultural chemicals, making regulatory approval more complex and expensive. Farmers can also become more cautious about adopting premium agrochemical products when subsidies decline or input costs rise. These factors can slow product launches, increase compliance costs, and put pressure on agrochemical companies that rely heavily on major herbicides, pesticides, and traditional crop protection chemicals.

Precision Farming, Biologicals, and Sustainable Agriculture Create New Opportunities

Precision agriculture, integrated pest management, biological crop protection, and digital farming are opening new opportunities across the Global Agrochemicals Market. Farmers are increasingly using sensors, data analytics, targeted spraying, and digital tools to apply fertilizers and pesticides more accurately. At the same time, demand is rising for biopesticides, biofertilizers, pheromone-based products, and other biological solutions that support sustainable agriculture. The growing role of machine learning and AI in agricultural R&D are helping companies shorten development timelines and improve product testing, while creating new possibilities for smarter crop protection and nutrient management.

Resistance, Climate Pressure, and Supply Challenges Create Market Risks

The Agrochemicals Market continues to face challenges from herbicide-resistant weeds, changing pest patterns, climate stress, fertilizer price volatility, and supply-chain disruptions. Continuous cropping and limited crop rotation can weaken soil health and increase resistance problems, forcing farmers to use more advanced crop protection strategies. At the same time, manufacturers must balance product performance, environmental impact, farmer affordability, and regulatory compliance. Companies that can combine effective herbicides, insecticides, fungicides, fertilizers, biological solutions, precision agriculture, and sustainable formulations are better placed to respond to these changing market conditions.

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Global Agrochemicals Market Segmentation

The Global Agrochemicals Market is segmented by Pesticide Type, Fertilizer Type, Crop Type, and Region. Rising demand for crop protection, higher agricultural productivity, improved fertilizer efficiency, pest and disease management, and sustainable farming practices is supporting market development across these segments.

Asia Pacific Leads the Global Agrochemicals Market as Large Farming Economies, Crop Protection Demand, and Fertilizer Use Support Regional Growth

Asia Pacific is the leading region in the Global Agrochemicals Market, supported by the scale of agriculture across China, India, Japan, South Korea, Australia, and Southeast Asia. Demand remains strong for herbicides, insecticides, fungicides, fertilizers, seed-treatment products, and biological crop protection as farmers work to improve yields and protect crops from weeds, pests, and diseases.

PARSIPPANY, N.J., Sept. 28, 2026 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) announced today that it will release its earnings results for the third quarter 2026 on Thursday, October 29, 2026. The company will host a conference call and webcast regarding results and other business matters on Thursday, October 29, 2026, at 8:30 a.m. ET.

The call is being webcast and can be accessed on PBF Energy's website, http://www.pbfenergy.com. The call can also be accessed by dialing (800) 715-9871 or (646) 307-1963. The audio replay will be available approximately two hours after the end of the call and will be available on the company's website.

About PBF Energy Inc.

PBF Energy Inc. (NYSE: PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business and provide superior returns to our investors.

PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.

Contacts:

Colin Murray (investors) 

[email protected] 

Tel: 973.455.7578 

Michael C. Karlovich (media)

[email protected]

Tel: 973.455.8981

SOURCE PBF Energy Inc.

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BROOMFIELD, Colo., Sept. 28, 2026 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the fourth quarter and fiscal year ended July 31, 2026, reported season-to-date pass product sales and provided its outlook for the fiscal year ending July 31, 2027.

Highlights

- Net income attributable to Vail Resorts, Inc. was $147.5 million for fiscal 2026 compared to $280.0 million in the prior year.

- Resort Reported EBITDA was $745.7 million for fiscal 2026 compared to $844.1 million in the prior year, which includes $11 million of one-time costs related to the previously announced resource efficiency transformation plan.

- Pass product unit sales through September 18, 2026 for the upcoming 2026/2027 North American ski season decreased approximately 12%, days sold decreased approximately 10% and sales dollars, inclusive of sales and admissions taxes, decreased approximately 6%, as compared to the prior year period through September 19, 2025.

- The Company provided its fiscal 2027 outlook, including net income attributable to Vail Resorts, Inc. of $158 million to $233 million and Resort Reported EBITDA of $805 million to $865 million, which includes an estimated $14 million of one-time costs.

- The Company declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock that will be payable on October 27, 2026 to shareholders of record as of October 8, 2026.

Commenting on the Company's fiscal 2026 results, Rob Katz, Chief Executive Officer said, "This past winter was one of the most challenging winters in history across the western U.S. for the ski industry, which negatively impacted financial performance for the year. Conditions were particularly severe in the Rockies, where snowfall and snowpack were at or near historic lows and significantly below prior record-low seasons, resulting in the most difficult weather environment we have ever experienced. With that backdrop, this past year demonstrated the resilience of our business model and encouraging signs for the future. Our advanced commitment model and cost discipline provided considerable stability, and our investments in talent, technology and our resorts drove record guest satisfaction scores and strong employee engagement, which are critical measures of our success.

"Looking back over the past year and a half, we have taken decisive action and accelerated the pace of change across our business, strengthening leadership, advancing growth initiatives, enhancing the guest experience, and improving operational efficiency. In addition to appointing a new CEO, we have brought on a new Chief Revenue Officer and a new independent board member with hospitality and operations expertise, with an ongoing search for a second director. We refreshed our marketing approach and increased our investment across media, channel strategies, branding and optimization of our products and pricing. We also announced our multi-year Epic Experience growth strategy to further differentiate the guest experience to drive increased guest engagement and loyalty, and the expansion of our resource efficiency transformation plan to deliver an additional $30 million of savings by fiscal 2028."

"While this past season had a challenging weather backdrop, we are encouraged by the early progress we are seeing across these strategies, including strong performance from our new product and pricing initiatives, lift ticket and pass sales trends that are outperforming the industry, increased brand awareness, and exceeding our original resource efficiency plan savings. Looking ahead, our Epic Experience strategy provides a clear roadmap for growth by placing the guest at the center of everything we do, in areas where we can drive clear competitive differentiation. By enhancing, personalizing and reducing friction at every stage of the guest journey, we see a significant opportunity to drive greater visitation, guest spending and loyalty through our differentiated resort network, marketing capabilities, and technology investments."

Fourth Quarter Operating Results

- Resort Net Revenue increased $0.9 million, or 0.3%, compared to the prior year primarily driven by strong performance at Grand Teton Lodge Company, partially offset by unfavorable weather conditions in Australia. Australian results were below expectations, as cumulative snowfall in the region during the quarter was approximately 57% below the 10-year average, which pressured visitation and revenue, partially mitigated by the growth in Australian pass sales. North American summer demand was in line with expectations.

- Resort Reported EBITDA increased $1.2 million, or 1.0%, compared to the prior year, primarily due to $8.1 million of CEO transition costs incurred in the prior year, disciplined cost management and $4 million lower one-time resource efficiency transformation costs, including $1 million of a timing shift into next year. These benefits were partially offset by weaker performance in Australia due to unfavorable weather conditions, typical cost inflation and increased marketing investments.

Full Year Operating Results

- Resort Net Revenue decreased $131.9 million, or 4.5%, compared to the prior year, primarily driven by unfavorable weather conditions that impacted visitation and revenue for both local and destination guests, particularly at the Rockies and Tahoe resorts. Compared to the prior year, total lift revenue declined 3.5%, despite visitation being down 13.4%, primarily as a result of pass revenue increasing 3.9% for the year.

- Resort Reported EBITDA decreased $98.5 million, or 11.7%, compared to the prior year, which was primarily driven by weather-related headwinds, and were partially offset by disciplined cost management, $45 million of resource efficiency transformation cost savings, $16.7 million of reduced costs from company-wide performance based management incentive plan expense that were not earned, and $6.2 million favorable EBITDA impact from changes in foreign exchange rates relative to the prior year. These cost benefits were partially offset by an incremental $20 million in marketing investment to support growth in pass sales, lift ticket initiatives and branding.

Season Pass Sales

Pass product units sold through September 18, 2026 for the upcoming North American ski season decreased approximately 12%, days sold1 decreased approximately 10% and sales dollars2, inclusive of sales and admissions taxes, decreased approximately 6%, as compared to the prior year period through September 19, 2025. Results through the Labor Day sales deadline were generally consistent with trends experienced during the spring selling period, when excluding auto-renew, as demand across the industry continued to be impacted by the effects of last season's historically challenging conditions.

Results following the Spring deadline in May showed modest improvement in Colorado and Utah local markets, while weakness remains concentrated among Destination frequency products, especially lower frequency passes. Third-party data continues to show Vail Resorts outperforming the broader industry, especially amongst comparable unlimited products. The Company's recently introduced product and pricing initiatives have continued to generate encouraging results, with relative strength in unlimited pass products compared to lower-frequency product offerings driving improved mix and pricing performance. As unit declines remain concentrated among Destination frequency pass products, the Company believes these trends may reflect delayed purchase behavior among less committed guests rather than fully lost demand, creating an opportunity to recapture visitation through pass sales in the remainder of the selling season and/or lift ticket products during the season, especially given the Company's ability to seamlessly and efficiently market broad-based and resort-specific season passes and lift tickets across all of its channels.

Fiscal Year 2027 Guidance

The Company is providing its initial guidance for the year ending July 31, 2027 and expects:

- Net income attributable to Vail Resorts, Inc. of $158 million to $233 million.

- Resort Reported EBITDA of $805 million to $865 million, including approximately $14 million of one-time costs.

Fiscal 2027 guidance reflects a meaningful recovery from the weather-impacted fiscal 2026 season, supported by increased lift ticket visitation, pricing growth, increased guest spending across ancillary businesses and approximately $25 million of incremental efficiencies from the resource efficiency transformation plan. These benefits are expected to be partially offset by lower pass demand trends, the normalization of operating expenses, inflationary pressures, additional strategic investments to support future growth and approximately $14 million of one-time costs.

At the midpoint, guidance implies an estimated Resort EBITDA margin of approximately 26.9%, or approximately 27.3% excluding one-time costs.

Relative to the Company's original fiscal 2026 expectations issued in September 2025, fiscal 2027 guidance assumes visitation is modestly lower with overall lift revenue flat from pricing and product optimization efforts, along with increased marketing investments to drive visitation. As a result, ancillary revenue growth and savings from Resource Efficiency Transformation are not expected to fully offset inflationary pressures, resulting in a lower Resort EBITDA margin than originally expected for fiscal 2026.

The guidance also assumes (1) a continuation of the current economic environment, (2) a range of normal weather conditions for the 2026/2027 North American and European ski season and the 2027 Australian ski seasons, and (3) foreign currency exchange rates as of September 25, 2026 noted below, and does not include any potential impacts related to future fluctuations in foreign currency exchange rates, which may be impacted by tariffs, trade disputes, or other factors.

Experienced Consumer and Apparel Executive to Lead L2 Brands' Next Phase of Growth

HANOVER, Pa., Sept. 28, 2026 /PRNewswire/ -- L2 Brands, a leading designer, manufacturer and marketer of premium custom-decorated apparel and headwear, today announced the appointment of John Fryer as Chief Executive Officer, effective September 28, 2026.

Fryer is a seasoned apparel and licensed products executive with experience leading scaled businesses across activewear, teamwear, and the collegiate channels. He most recently served as President of Unrivaled Teamwear, a carve-out from Hanesbrands, and operator of Champion Teamwear, Gear for Sports, and Knights Apparel brands. At L2 Brands, Fryer will lead a fully integrated organization spanning commercial, product, supply chain, and manufacturing.

Fryer brings extensive leadership experience in the consumer products and apparel industries, with a track record of building brands, driving profitable growth and developing high-performing organizations. In his new role, Fryer will lead L2 Brands as the company continues to expand its position across the collegiate, resort and destination, golf and corporate markets.

L2 Brands is a portfolio company of Sentinel Capital Partners, a private equity firm focused on investing in promising midmarket companies.

"We are thrilled to welcome John to L2 Brands," said Paige Wingert, Interim Co-CEO and co-founder of Legacy Headwear. "Throughout this process, we were looking for a leader who understood what makes L2 special — our people, our brands, our customers and the culture that has been built over more than three decades. John brings the leadership experience, energy and values that we believe make him the right person to lead L2 into its next chapter. I am excited about what lies ahead for the company and our team."

Evan Toporek, Interim Co-CEO, added, "L2 has tremendous momentum and significant opportunities for continued growth. John's experience building and leading consumer businesses, combined with his focus on customers, brands and operational execution, stood out to us. Just as importantly, he appreciates the entrepreneurial culture and customer-first mindset that have been central to L2's success. We believe John is exceptionally well suited to build on the strong foundation already in place and help L2 realize its full potential."

Fryer joins L2 at an important point in the company's evolution. Over the past several years, L2 Brands has expanded its portfolio and capabilities while maintaining its commitment to premium products, differentiated design and decoration, outstanding customer service and a highly responsive supply chain. Today, the company serves customers through its League, Legacy, Ouray, Locale, and newly acquired Wild Tribute brands, with a growing presence across multiple end markets.

"I am honored and excited to join L2 Brands," said John Fryer. "L2 has built an outstanding reputation based on great brands, exceptional products, deep customer relationships and, importantly, a talented and passionate team. I have tremendous respect for what L2 has accomplished and see an enormous opportunity to build on that foundation."

"I look forward to spending time with our employees, customers and partners, learning from them and working together to write the next chapter of L2's growth."

Wingert and Toporek have served as Interim Co-CEOs during the company's leadership transition and will work closely with Fryer to ensure a seamless transition before returning to their positions on the company's Board of Directors.

About L2 Brands

L2 Brands is a leading designer, manufacturer and marketer of high-quality, custom-logo apparel and headwear serving the collegiate, resort and destination, golf and corporate markets. For more than 30 years, L2 Brands and its family of lifestyle brands have created premium customized products that connect consumers with the schools, traditions, destinations and organizations they love.

Headquartered in Hanover, Pennsylvania, L2 Brands is known for its innovative product design, extensive decoration and customization capabilities, commitment to customer service and entrepreneurial culture. L2 Brands' portfolio includes League, Legacy, Ouray, Locale, and Wild Tribute.

For more information, visit https://l2brands.com/.

About Sentinel Capital Partners

Sentinel Capital Partners (https://www.sentinelpartners.com/) is a private equity firm that invests in promising midmarket companies across a variety of industries. Sentinel partners with management teams to build businesses through a combination of organic growth, operational improvement and strategic acquisitions. L2 Brands is an active portfolio company of Sentinel Capital Partners.

SOURCE L2 Brands

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- Acquisition significantly enhances AAR's scale, margins, and cash flow profile

- Adds more than $1 billion in revenue supporting blue-chip, U.S. airline customers

- Expands AAR's consolidated adjusted EBITDA margins1 from approximately 12% to 16%, before synergies

- Expected to be accretive to adjusted EPS in the first full fiscal year post closing

- Updating AAR's adjusted EBITDA margin target to approximately 19% to 20% within three to four years

WOOD DALE, Ill., Sept. 28, 2026 /PRNewswire/ -- AAR CORP. (NYSE: AIR) (the "Company" or "AAR"), a leading Parts, Repair, and Software platform in the aviation aftermarket, today announced it has entered into a definitive agreement to acquire a 65% controlling interest in MRO Holdings at an implied enterprise value of $4.0 billion. This represents 10.7x MRO Holdings' forecasted full calendar year 2026 adjusted EBITDA, including $75 million in anticipated run-rate cost synergies and net of transaction-related tax benefits with an expected present value of approximately $150 million. The transaction will expand and strengthen AAR's leading aviation aftermarket platform and create significant additional growth opportunities across the Company's core Parts, Repair, and Software activities. The combination creates advantages for AAR's customers as the Company will offer a broader range of maintenance solutions.

MRO Holdings is a leading global provider of aircraft maintenance, repair, and overhaul (MRO) with more than four decades of experience. Through its team of approximately 10,000 professionals and 115 lines of airframe maintenance capacity, MRO Holdings performs aircraft maintenance and modifications across its extensive network in the Americas, with facilities in El Salvador, Mexico, Colombia, and the United States. Approximately 90% of MRO Holdings' revenue is from sales to U.S. customers.

"Over the last several years, AAR has taken important steps to reshape our portfolio into an integrated Parts, Repair, and Software aviation aftermarket platform," said John M. Holmes, Chairman, President and CEO of AAR. "Heavy maintenance is a foundational element of this platform, driving revenue to all other areas of the Company. Through the acquisition of MRO Holdings, we will create the largest heavy maintenance MRO in the world, servicing a combined total of nearly 3,000 aircraft per year in our hangars. As a result of this scale, we expect to drive additional volume through our Component MRO facilities, we will have a much larger channel for new and existing OEM distribution relationships, and we will have additional avenues for data collection supporting our software business. In addition, we see more growth opportunities for the heavy maintenance business itself, including widebody maintenance and increased capture of European and Middle Eastern fleets for service in the Americas.

"The transaction structure allows us to partner with a proven team that brings decades of experience in a strategically important region. This structure also provides the financial flexibility to continue to pursue AAR's broader strategy. This highly strategic acquisition is truly transformational for AAR and marks a significant step in our long-term growth plan," concluded Holmes.

In calendar year 2026, MRO Holdings is expected to generate approximately $1.0 billion of sales and $285 million of adjusted EBITDA, representing an adjusted EBITDA margin of approximately 27%. MRO Holdings also has an exceptional cash flow conversion profile, converting approximately 70% of adjusted EBITDA into adjusted cash flow from operating activities in calendar year 2025.

On a pro forma basis, the Company's adjusted EBITDA margin before synergies is approximately 16%, or roughly 400 basis points accretive to AAR's standalone FY 2026 results2. AAR expects to generate approximately $75 million of run-rate cost synergies from operations optimization, procurement savings, SG&A optimization, and the sharing of operational best practices. The Company expects to achieve the full run-rate benefit of the synergies within three to four years following closing and is targeting an adjusted EBITDA margin of approximately 19% to 20% in that timeframe.

Holmes continued, "While the strategic benefits are significant, the acquisition of MRO Holdings also greatly enhances our financial profile. The acquisition further strengthens our ability to generate above-market sales growth, and we see a path to 20% adjusted EBITDA margins in the next three to four years. Further, the cash generated by the combination of AAR and MRO Holdings will be substantial, allowing the Company to quickly de-lever and retain future financial flexibility. With greater scale and a stronger financial profile, AAR will be better positioned to deliver higher, more profitable growth across our Parts, Repair, and Software platform."

"This is a major milestone in MRO Holdings' evolution, and AAR is the right partner," said Roberto Kriete, Chairman of MRO Holdings. "Combining our technical expertise and customer relationships with AAR's broader aftermarket capabilities will strengthen our value proposition and support continued investment in our people, capabilities, and facilities. Together, MRO Holdings and AAR create a stronger platform with greater scale, deeper technical resources, and a broader ability to serve the world's leading airlines. We are staying on as shareholders of MRO Holdings because we share AAR's ambition for continued growth and want to be a part of it."

"As a significant minority shareholder in MRO Holdings, we are proud to have been part of a period of meaningful growth for the company," said Matt Evans, a Partner at Bain Capital. "MRO Holdings has built a differentiated offering with deep customer relationships, a highly skilled workforce, and a compelling position in a market supported by durable demand for aircraft maintenance. We believe AAR is an excellent partner for the company's next chapter and look forward to participating in continued value creation as shareholders."

Transaction details

Under the terms of the agreement, AAR will initially acquire a 65% interest in MRO Holdings for an equity value of approximately $1.8 billion. As part of this initial transaction, AAR will also repay approximately $1.3 billion of MRO Holdings' existing borrowings. AAR expects to fund the transaction, including related expenses, through approximately $2.1 billion of new debt, approximately $780 million of equity issued at $135 per share to existing MRO Holdings shareholders, and approximately $230 million of proceeds from a private investment in public equity (PIPE) offering, led by The Pritzker Organization and other blue-chip institutional investors.

AAR will have the option to acquire the remaining 35% ownership interest of MRO Holdings with 5% exercisable at any time within six years of the closing of the initial Acquisition, and the remaining 30% exercisable in three equal tranches of 10% on the second, third, and fourth anniversaries of the closing of the initial acquisition. AAR will control the MRO Holdings Board of Managers, and the selling owners will be subject to customary lockups and voting-support provisions with respect to the AAR shares they receive in the transaction.

The approximately $2.1 billion of new debt financing is supported by a fully committed bridge facility, which AAR intends to replace with permanent debt financing prior to closing. AAR expects net leverage at closing to be approximately 3.6x, including run-rate synergies. As part of the agreement, AAR will receive 100% of the excess cash flow from MRO Holdings during its first two years of ownership. AAR expects net leverage to be approximately 3.0x within two years following close of the transaction and to return to its target range of 2.0x to 2.5x over the medium term, even as we exercise the purchase options. AAR expects to maintain its BB-category credit rating profile at each of S&P and Moody's.

The transaction is expected to close in AAR's fiscal third quarter ending February 2027, subject to receipt of regulatory approvals and satisfaction of other customary closing conditions. The Board of Directors of AAR has unanimously approved the transaction. Following closing, AAR will fully consolidate MRO Holdings into its financial results.

Advisors

Goldman Sachs & Co. LLC; William Blair & Company, LLC; and Centerview Partners LLC are serving as financial advisors to AAR. Kirkland & Ellis LLP is serving as legal counsel to AAR. Goldman Sachs Bank USA and Wells Fargo Securities, LLC are serving as underwriters of the committed debt financing supporting the transaction, and Goldman Sachs & Co. LLC is exclusive placement agent for the PIPE offering.

Solomon Partners is serving as lead financial advisor to MRO Holdings. RBC Capital Markets, LLC is also advising MRO Holdings. Greenberg Traurig, LLP is serving as legal counsel to MRO Holdings.

Conference call

On Tuesday, September 29, 2026, at 7:00 a.m. CT, AAR will hold a conference call to discuss the transaction as well as the Company's first quarter fiscal 2027 earnings results, which were announced in a separate release today. A listen-only webcast and slides can be accessed at https://edge.media-server.com/mmc/p/ogsm2rh7. Participants may join via phone by registering at https://register-conf.media-server.com/register/BIe2a403237161465d99fb8af7cc93b3e8. Once registered, participants will receive a dial-in number and a unique PIN that will allow them to access the call.

A replay of the conference call will be available for on-demand listening shortly after the completion of the call at the webcast link and will remain available for approximately one year.

A slide presentation pertaining to the transaction has also been made available on the Investors section of AAR's website at https://www.aarcorp.com/en/investors/.

WOOD DALE, Ill., Sept. 28, 2026 /PRNewswire/ -- AAR CORP. (NYSE: AIR) (the "Company" or "AAR"), a leading parts, repair, and software platform in the aviation aftermarket, reported today financial results for the fiscal year 2027 first quarter ended August 31, 2026.

In a separate press release issued today, AAR announced it has entered into a definitive agreement to acquire a controlling interest in MRO Holdings. For additional information on the transaction, please refer to the transaction-specific press release and the investor presentation on the Investors section of AAR's website. Due to this agreement, AAR's previously scheduled earnings conference call has been rescheduled to 7:00 AM CT on Tuesday, September 29, 2026.

FIRST QUARTER FISCAL YEAR 2027 HIGHLIGHTS

(As compared to Q1 FY2026)

- Sales of $918 million; increased 24%

- GAAP diluted EPS of $1.00

- Adjusted diluted EPS of $1.49; increased 38%

- GAAP Net income of $40 million

- Adjusted EBITDA of $117 million; increased 34%

- Adjusted EBITDA margin increased from 11.7% to 12.7%

"This was a very strong start to our fiscal year," said John M. Holmes, AAR's Chairman, President and CEO. "Our airline customers continue to experience strong demand for air travel, which in turn is driving strong demand for our services, as evidenced by our results this quarter. Total sales were up 24%, and we saw growth across all three core segments. In our Parts Supply segment, total growth of 31% was led by 23% organic growth in new parts Distribution on strength in both Commercial and Government end markets. Our Repair, Engineering & Software (RE&S) segment reported 31% sales growth, driven by our Airframe MRO, Component MRO, and software activities. Government Solutions was up 4% driven by strength in Mobility Systems.

"Our sales growth resulted in an adjusted EBITDA increase of 34% in the quarter and adjusted EBITDA margins of 12.7%, up 100 basis points year over year. Total adjusted EBITDA margin from the Parts Supply, RE&S, and Government Solutions segments was 13.3%.

"Cash from operations in the quarter was $56 million, helping to further reduce net leverage to 1.81x.

"Along with our strong fiscal first quarter earnings, we also announced an agreement to acquire a 65% controlling interest in MRO Holdings. Over the last several years, AAR has taken important steps to reshape our portfolio into an integrated Parts, Repair, and Software aviation aftermarket platform. Through the acquisition of MRO Holdings, AAR will achieve scale that significantly accelerates our strategy as heavy maintenance helps drive revenue to all other areas of the company. Further, the transaction structure allows us to partner with a proven team that brings decades of experience in a strategically important region while also providing the financial flexibility to continue to pursue AAR's broader strategy. This acquisition is highly strategic for AAR and marks a significant step in our long-term growth plan."

Holmes concluded, "Our strategy has been successful over the last several years as we have delivered above-market growth and consistent margin expansion. The acquisition of MRO Holdings will further propel this growth and drive a meaningful step-up in our margin profile. The strategy, portfolio, and combination add to the strength and resilience of our aftermarket platform. Given our solid first quarter results and continued demand for our solutions, we remain confident in our ability to deliver another year of strong performance in fiscal 2027."

FIRST QUARTER FISCAL YEAR 2027 RESULTS

Consolidated first quarter sales increased 24% to $918.0 million, compared to $739.6 million in the same quarter last year. Sales to commercial customers increased 28%, or $147.5 million, primarily due to the acquisition contributions combined with continued above-market Commercial Distribution sales. Sales to government customers increased 14%, or $30.9, over the same period last year, primarily due to increased volumes in our new parts distribution activities. Sales to commercial customers were 73% of consolidated sales, compared to 71% in the prior year quarter.

The Company reported net income of $40.1 million, or $1.00 per diluted share. For the first quarter of the prior year, the Company reported net income of $34.4 million, or $0.95 per diluted share. Adjusted diluted earnings per share in the first quarter of fiscal year 2027 were $1.49, compared to $1.08 in the first quarter of the prior year.

Selling, general, and administrative expenses were $107.0 million in the current quarter, compared to $71.8 million in the prior year quarter. Acquisition, amortization, and integration expenses were $19.6 million in the quarter, compared to $4.4 million in the prior year quarter.

Operating margins were 7.9% in the quarter, compared to 8.8% in the prior year quarter. Adjusted operating margin increased to 10.6% in the current year quarter from 9.7% in the prior year quarter, primarily as a result of growth in our Parts Supply segment and increased profitability in our Government Solutions segment.

Net interest expense for the quarter was $16.2 million, compared to $18.5 million last year. Average diluted share count increased from 35.9 million shares in the prior year quarter to 39.9 million shares in the current year quarter.

Cash flow provided by operating activities was $55.8 million during the current quarter, compared to $44.9 million of cash used in the prior year quarter. As of August 31, 2026, net debt was $780.5 million and net leverage was 1.81x.

SECOND QUARTER AND FULL YEAR FISCAL 2027 GUIDANCE

The Company is providing the following guidance for the second quarter and full year fiscal 2027. This guidance does not include any impact of the MRO Holdings acquisition:

Conference call information

On Tuesday, September 29, 2026, at 7:00 a.m. Central Time, AAR will hold a conference call to discuss the quarterly results and the announced acquisition of MRO Holdings. A listen-only webcast and slides can be accessed at https://edge.media-server.com/mmc/p/ogsm2rh7. Participants may join via phone by registering at https://register-conf.media-server.com/register/BIe2a403237161465d99fb8af7cc93b3e8. Once registered, participants will receive a dial-in number and a unique PIN that will allow them to access the call.

A replay of the conference call will be available for on-demand listening shortly after the completion of the call at the webcast link and will remain available for approximately one year.

The slides are also available on AAR's website at https://www.aarcorp.com/en/investors/.

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, and Software; and Government Solutions. Additional information can be found at aarcorp.com/.

Contact: Chris Tillett – Investor Relations | +1-630-227-5830 | [email protected]

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, which reflect management's expectations about future conditions, including, but not limited to, our second quarter and full year FY 2027 guidance, execution of strategies, continued demand in the commercial and government aviation markets; market position; anticipated activities and benefits related to new or expanding business relationships; expected contributions and synergies related to acquisitions; expansion of capabilities and operational footprint; opportunities for margin improvement through operations, integration activities and other efficiency initiatives; and continued sales and margin growth, earnings performance, debt management, and capital allocation.

Forward-looking statements often address our expected future operating and financial performance and financial condition, or targets, goals, commitments, and other business plans, and often may also be identified because they contain words such as "anticipate," "continue," "estimate," "expect," "project," "plan," "potential," "predict," "intend," "believe," "may," "might," "will," "would," "should," "seek," "could," "positions," "likely," "target," "goal," "strategy" or similar expressions and the negatives of those terms.

These forward-looking statements are subject to certain risks and uncertainties that may cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors, including: factors that adversely affect the commercial aviation industry; adverse events and negative publicity in the aviation industry; a reduction in sales to the U.S.

Gift will support advancement of multi-disciplinary comprehensive care strategy for AHN's growing memory disorders programs

PITTSBURGH, Sept. 28, 2026 /PRNewswire/ -- Allegheny Health Network (AHN) is pleased to announce a $1 million commitment from Greg and Ellen Jordan to the network's Department of Neurology, supporting memory disorder research, education and expanded care.

The Greg and Ellen Jordan Endowed Professorship for Alzheimer's Disease and Related Disorders (ADRD), will expand AHN's efforts to advance innovative clinical care, neuroscience research, and support programming for patients living with Alzheimer's disease and other forms of dementia and cognitive impairment. Aligned with community needs, this investment will also help patients live their best lives by increasing access to comprehensive wrap-around services designed to support patients and their loved ones holistically, and beyond traditional medicine.

Greg Jordan is chairman of the Board of Directors of Highmark Health, a position he has held since 2025. He also serves on the Board of Directors of MSA Safety and is vice chairman of PNC. He previously served as PNC's general counsel and chief administrative officer; he retired from those roles in 2024.

"For Ellen and me, supporting Alzheimer's and memory care research is personal," Jordan said. "We have each lost a parent to memory-related diseases, and we know that supporting AHN's research in this field is needed to continue to make progress on finding ways to deal with these challenges."

The gift will also help strengthen AHN's broader investment in memory disorder care, including the enhancement of the Memory Disorders Clinic at AHN West Penn Hospital. The clinic currently serves approximately 2,000 patients annually and provides comprehensive care that considers not only patients' neurological needs, but also caregiver demands, behavioral health needs, social determinants of health, and advance-care planning.

"Greg and Ellen Jordan's extraordinary generosity will help us build upon the strength of our memory disorders program and position AHN to meet the growing needs of patients and their families affected by cognitive disorders," said Stephen Samples, MD, chair of the Department of Neurology at AHN. "This investment gives us the ability to advance patient care while also fostering research, education and innovation. We are deeply grateful to the Jordans for this investment in the future of neurological care in our region."

One similar project already underway is the new hub for the AHN Neuroscience Department.

The five-story hub at Allegheny General Hospital serves as an anchor for AHN's broader, network-wide approach to neurological care, connecting patients and clinicians across a continuum of specialized services and locations. The new model brings together expertise across disciplines and sites to support coordinated care, advanced diagnostics and therapies, research, education and innovation for patients with complex neurological conditions.

The continued development of the Memory Disorders Clinic at West Penn Hospital is an important part of that broader strategy, expanding access to specialized cognitive and memory care while connecting patients and families to the depth of expertise and resources available throughout AHN's Neuroscience Department.

Space enhancements for the Memory Disorders Clinic at West Penn will provide a calming, patient- and family-centered environment where memory neurologists, nurse navigators, geriatricians, pharmacists, dietitians and other multidisciplinary clinicians can collaborate in the diagnosis and treatment of memory disorders.

The clinic's expansion comes at a time when the need for comprehensive memory care continues to grow, regionally and nationally. AHN has implemented innovative programs such as the Aging Brain Care Program, which provides comprehensive coaching and support for caregivers, and participates in the Centers for Medicare and Medicaid Services' Guiding an Improved Dementia Experience (GUIDE) model.

The number of Americans living with Alzheimer's disease and related forms of dementias is projected to reach 8.5 million by 2030, and 14 million by 2060.

"Investments like this are essential to advancing our mission of providing remarkable health care experiences for patients and families throughout Western Pennsylvania," said Mark Sevco, president, AHN. "The Jordan family's generosity will help AHN strengthen a program that is addressing one of the most significant health challenges facing our aging population. We are incredibly grateful for their commitment to helping shape the future of memory disorders care."

Through the Jordan family's generosity, AHN will be better positioned to advance prevention and early detection — key pillars of AHN's and Highmark Health's "Living Heath" clinical model. Living Health is an integrated, "whole person" care and coverage strategy that gets ahead of costly chronic conditions and diseases by focusing on physical, mental, and social health at the population level instead of just treating individual illnesses.

 About Allegheny Health Network

Allegheny Health Network (AHN.org) is an integrated health care delivery system serving the greater Western Pennsylvania region. The network is composed of 16 hospitals, ambulatory surgery centers, Health + Wellness Pavilions, an employed physician organization, home- and community-based health services, a research institute, and a group purchasing organization. AHN provides patients with access to a complete spectrum of advanced medical services, including nationally recognized programs for primary and emergency care, cardiovascular disease, cancer care, orthopedic surgery, neurology and neurosurgery, women's health, diabetes and more. AHN employs approximately 27,000 people, has 3,000 physicians on its medical staff, and serves as a clinical campus for Drexel University College of Medicine, Lake Erie College of Osteopathic Medicine and Duquesne University College of Osteopathic Medicine.

Media Contact: Sarafina James, [email protected]

SOURCE Allegheny Health Network

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PASADENA, Calif., Sept. 28, 2026 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced the closing of its amended and restated $5.0 billion unsecured senior line of credit, a strategic extension that further strengthens the company's long-term financial flexibility and reflects the enduring support of its longstanding, trusted banking partners. The amendment extends the maturity of the facility to January 2032 and reduces the applicable borrowing margin, reinforcing Alexandria's disciplined and proactive management of its strong and flexible balance sheet. The amended agreement became effective on September 24, 2026.

The amended agreement extends the maturity date of Alexandria's $5.0 billion unsecured senior line of credit from January 22, 2030 to January 22, 2032, assuming the company exercises its rights to extend the maturity date twice by an additional six months for each exercise, subject to certain conditions. The extension preserves Alexandria's substantial revolving credit capacity and advances the company's longstanding financial strategy to maintain significant liquidity, prudently ladder debt maturities, and preserves access to diverse sources of capital, providing critical financial capacity to execute across market cycles.

The amended agreement also reduces the applicable borrowing rate to SOFR plus 0.725%, representing an 11-basis-point reduction from the currently applicable rate of SOFR plus 0.835%.

"The successful extension of our $5.0 billion unsecured senior line of credit underscores the strength of our mission-critical relationships with our banking partners and their continued confidence in and longstanding support of Alexandria," said Marc E. Binda, chief financial officer and treasurer of Alexandria Real Estate Equities, Inc. "Extending the maturity to 2032 while reducing our borrowing margin represents another consequential execution by our best-in-class team to further strengthen our balance sheet, prudently manage our long-term cost of capital, and maintain significant liquidity and financial flexibility. These enduring financial strengths position Alexandria to execute our highly differentiated, mission-driven business model with discipline and conviction, and capitalize on strategic opportunities through evolving market cycles."

Citibank, N.A. serves as administrative agent under the amended agreement. Citibank, N.A., BofA Securities, Inc., JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA, RBC Capital Markets, Banco Bilbao Vizcaya Argentaria, S.A. New York Branch, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, TD Bank, N.A., The Bank of Nova Scotia, Truist Securities, Inc. and U.S. Bank National Association serve as joint lead arrangers; and Citibank, N.A., BofA Securities, Inc., JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA and RBC Capital Markets serve as joint bookrunners.

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, Alexandria pioneered the life science real estate niche. Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative Megacampus™ ecosystems in AAA life science and advanced technology innovation cluster locations, including Greater Boston, San Diego, the San Francisco Bay Area, Seattle, Maryland, Research Triangle and New York City. For more information, please visit www.are.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding Alexandria's corporate responsibility initiatives, strategic investments, partnerships and support of charitable and community organizations; Alexandria's role in supporting tenants and companies in which it invests that are engaged in research and development in hematology and oncology; and the anticipated impact or benefits of these investments, partnerships and support, including the expected impact of the missions, programs and initiatives of the charitable and community organizations Alexandria supports. These forward-looking statements are based on Alexandria's present intent, beliefs, or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in Alexandria's forward-looking statements, and risks and uncertainties to Alexandria's business in general, please refer to Alexandria's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.

CONTACT: Sara Cohen, Assistant Vice President – Capital Markets & Corporate Operations, (646) 799-2617, [email protected]

SOURCE Alexandria Real Estate Equities, Inc.

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Gross Proceeds to Viking Approximately $575 Million

SAN DIEGO, Sept. 28, 2026 /PRNewswire/ -- Viking Therapeutics, Inc. (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced the closing of its concurrent upsized public offerings of 9,035,714 shares of common stock, at a public offering price of $35.00 per share, and $258.75 million aggregate principal amount of 2.00% convertible senior notes due 2032 (the "notes"), which included the full exercise by the underwriters of the common stock offering of their option to purchase an additional 1,178,571 shares of common stock, and the full exercise by the underwriters of the note offering of their option to purchase an additional $33.75 million aggregate principal amount of notes. The gross proceeds to Viking from the offerings were approximately $575.0 million, before deducting underwriting discounts and commissions and offerings expenses.

Morgan Stanley, J.P. Morgan, Jefferies, Leerink Partners and William Blair acted as joint book-running managers for the note offering. Morgan Stanley, J.P. Morgan, Jefferies, Leerink Partners, William Blair and Raymond James acted as joint book-running managers for the common stock offering. Oppenheimer & Co. acted as lead manager and Canaccord Genuity, H.C. Wainwright & Co., B. Riley Securities, Maxim Group LLC and Laidlaw & Company (U.K.) Ltd. acted as co-managers for the common stock offering.

Viking estimates that the aggregate net proceeds from the offerings were approximately $547.8 million, after deducting the underwriting discounts and commissions and Viking's estimated offering expenses. Viking intends to use the net proceeds from the offerings for the continued clinical development, advancement and commercialization of its VK2735 program, the continued clinical development and advancement of its VK3019 program and for other general research and development, working capital and general corporate purposes.

The offerings were made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC"). Each offering was made only by means of a prospectus supplement relating to that offering and an accompanying prospectus. An electronic copy of the final prospectus supplement for each offering, together with the accompanying prospectus, is available on the SEC's website at www.sec.gov. Alternatively, copies of these documents can be obtained by contacting: Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected].

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Viking Therapeutics, Inc.

Viking Therapeutics, Inc. is a clinical-stage biotechnology company advancing a next-generation portfolio of therapies for obesity and metabolic disease. Guided by deep expertise in metabolic biology and rigorous science, Viking is developing innovative treatments to help people achieve meaningful, lasting health improvements by treating obesity first. The company's lead program, VK2735, is a dual glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptor agonist in development in both subcutaneous and oral formulations for obesity. VK2735 is currently being evaluated in Phase 3 clinical studies for obesity, along with maintenance dosing strategies designed to support long-term weight management. Viking is also advancing additional obesity programs, including VK3019, an amylin receptor agonist, VK2809, an orally available thyroid hormone receptor beta agonist for metabolic and liver disease, and VK0214 for the rare genetic disorder X-linked adrenoleukodystrophy (X-ALD).

Forward-Looking Statements

This press release contains forward-looking statements regarding Viking Therapeutics, Inc., under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements about the expected amount and intended use of the net proceeds. Forward-looking statements represent Viking's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are risks described under the caption "Risk Factors" in the final prospectus supplements for the offerings and risks relating to Viking's business, including those described in Viking's most recent periodic reports filed with the Securities and Exchange Commission, including Viking's Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent Quarterly Reports on Form 10-Q, including the risk factors set forth in those filings. The forward-looking statements included in this press release speak only as of the date of this press release, and Viking does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

SOURCE Viking Therapeutics, Inc.

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DENVER, Sept. 28, 2026 /PRNewswire/ -- Gates Industrial Corporation Ltd. (NYSE: GTES), a leading global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced it has completed the acquisition of the belts business of The Timken Company, including select manufacturing assets.

The acquisition expands Gates' North American power transmission with additional manufacturing capacity and customer relationships across industrial original equipment manufacturers (OEM), the industrial aftermarket and mobility power sports markets, while also augmenting the company's talent base.

"The completion of this acquisition strengthens Gates' position in power transmission and supports our strategy to grow in industrial and mobility markets," said Tom Pitstick, president, Americas at Gates. "We are pleased to welcome the new team members who are joining Gates and look forward to building on our combined capabilities to create value for our customers, employees and stakeholders."

Gates has developed a structured integration approach and will leverage the broad in-region manufacturing and distribution footprint to support customers through this transition. As part of the transaction, Gates is also assuming operational control of the belts manufacturing facility in San Jose Iturbide, Mexico, enhancing the company's North American footprint.

Financial terms of the transaction were not disclosed.

About Gates Industrial Corporation Ltd. 

Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to OEMs as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications, including virtually every form of transportation. Our products are sold in more than 130 countries across our three commercial regions: the Americas; Europe, Middle East & Africa; and Asia-Pacific. For more information, visit gates.com.

Forward Looking Statement 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These statements include, but are not limited to, statements related to the expected benefits of the acquisition and expectations regarding the performance of the Company's business and financial results. Such forward-looking statements are subject to various risks and uncertainties, including, among others, the possibility that the acquisition will not result in the benefits expected by Gates; risks related to the integration of Timken's belts business, including retention of customers and employees; U.S. policies, actions or legislation (including the imposition of tariffs), economic, political and other risks associated with international operations (including as a result of the ongoing conflicts in the Middle East and their impact on supply chains, such as reduced availability of certain of our production materials and increased supply costs, and economic conditions), availability of raw materials or other manufacturing inputs at favorable prices in sufficient quantities, or at a given time, changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, of key channel partners, dependence on the continued operation of our manufacturing facilities, supply chains, distribution systems and information technology systems, our ability to forecast demand or meet significant increases in demand and market acceptance of new product introductions and innovations. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission, as such factors are or may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. 

Media Contact

Raquel Fuentes

[email protected]

Investor Contact

Rich Kwas

[email protected]

SOURCE Gates Corporation

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