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(Bloomberg) -- Warburg Pincus and Berkshire Partners are in advanced talks to acquire aircraft parts and services supplier Triumph Group Inc. for about $3 billion, including debt, according to people familiar with the matter.
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The private equity firms are discussing paying $26 per share for the Radnor, Pennsylvania-based company, said the people, who asked to not be identified because the details are private. A deal could be announced as soon as Monday, the people said. No final decision has been made and discussions could fall through, the people added.
Representatives for Triumph and Warburg Pincus declined to comment. A representative for Berkshire didn’t immediately respond to a request for comment.
Triumph Group shares jumped 33% to $24.90 in US premarket trading as of 4:41 a.m. in New York 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 it 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.
--With assistance from Crystal Tse and Bre Bradham.
(Adds premarket trading in fourth paragraph.)
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