In This Article:
(Bloomberg) -- Private equity firms Warburg Pincus and Berkshire Partners agreed to take aircraft parts and services supplier Triumph Group Inc. private for about $3 billion, including debt.
Most Read from Bloomberg
-
New York’s First ‘Passive House’ School Is a Model of Downtown Density
-
Historic London Elevator Faces Last Stop in Labour’s Housing Push
The buyout firms offered to pay $26 per share in cash for the Radnor, Pennsylvania-based company, according to a statement on Monday that confirmed an earlier Bloomberg News report. The offer price represents a premium of roughly 39% to the closing price on Friday. The transaction is expected to close in the second half of this year, subject to approval from regulators and shareholders.
Triumph Group shares jumped as much as 37% to $25.61 in US premarket trading on Monday. The company’s market value was about $1.5 billion on Friday. Triumph also has about $966 million in debt, according to data compiled by Bloomberg. Bloomberg News reported in October that the company was weighing a sale.
Triumph offers a range of aftermarket products for commercial and military aircraft, including engine parts and integrated systems. Original equipment manufacturers are among its biggest clients. Last year, the company sold its product support arm to rival AAR Corp. for $725 million in a move to become a nimbler aftermarket player.
This isn’t the first time Warburg Pincus and Berkshire have partnered on an aerospace-related deal. In 2019, they recapitalized Consolidated Precision Products Corp., according to a statement at the time.
Goldman Sachs Group Inc. is the financial adviser to Triumph, while Lazard Inc. served as financial adviser to Berkshire Partners and Warburg Pincus.
Most Read from Bloomberg Businessweek
-
Indy Pass, the Anti-Vail Seasonal Ski Ticket, Is Gaining Fans
-
What America’s Tech Billionaires Really Bought When They Backed Donald Trump
©2025 Bloomberg L.P.