Washington, D.C.-based private equity firm Arlington Capital Partners has agreed to acquire the fabrications business of Triumph Group (NYSE: TGI) for an undisclosed sum.
Triumph Fabrications is composed of four independent firms with operations in San Diego; Phoenix; Shelbyville, Ind.; Hot Springs, Ark.; and Fort Worth, Texas, Triumph Group said Monday.
The companies under Triumph Fabrications, which recorded approximately $150M in combined revenue during the fiscal year ended March 31, 2018, supports the aerospace industry by delivering assemblies and sheet metal components for rotorcraft and fixed-wing platforms.
Arlington Capital and Triumph expect to close the transaction in the next few months, subject to customary closing conditions.
Dan Crowley, president and CEO of Triumph Group, said the divestiture is part of the company™s transformation plan to streamline portfolio, create shareholder value and focus on growth areas such as aftermarket and integrated systems businesses.
Lazard served as Triumph™s exclusive financial adviser in the deal.
