AAR has signed an agreement with Teleflex to acquire its two aviation businesses, Telair International and Nordisk Aviation Products, for $280m, expanding its offering to aircraft makers Airbus and Boeing.

Telair International manufactures cargo-loading systems for passenger and cargo jets, including the Airbus A330 and A340 and Boeing’s new 747-800 aircraft, as well as systems and parts for other planes, including Boeing 737s.

Nordisk Aviation Products manufactures pallets and cargo containers for airlines at its facilities in Norway and China.

The transaction will be funded through the company’s existing revolving credit facility and is expected to be closed by the end of this year.