Triumph Group recently announced the sale of its composites operations to Arlington Capital Partners, a deal that includes Triumph Aerospace Structures composites locations in Georgia and Thailand.
These two locations cover approximately 800,000 square feet of factory space, employ around 600 people, and provide engine composite fabrications and assemblies across commercial, business jet and defense platforms.
With the sale of Triumph’s composites business, Triumph continues to execute on its earlier announced Aerospace Structures strategic review, said Daniel Crowley, Triumph Group president and CEO.
“This transaction will further reduce debt and enhance liquidity while moving the company towards its future state as a leading provider of systems and aftermarket service,” he added. “We are excited to partner with Arlington Capital Partners who will benefit from the experienced workforce, significant capabilities, and embedded customer relationships at both factories.”
Since 2016, Triumph has divested 13 non-core businesses as part of its transformation efforts to de-lever the company and enhance margins.
The transaction is subject to customary closing conditions and will likely close in Triumph’s second quarter of FY21. Following the transaction’s close, the business will retain its management, technical and supporting staff, and will continue operations at the current facilities.