Triumph Group to acquire Vought Aircraft Industries for $1.44 billion
23 Mar 2010
Supplier and repairer of aerospace systems and components, Triumph Group Inc, today said that it has signed an agreement to acquire Vought Aircraft Industries from private equity firm Carlyle Group in a $1.44-billion in a cash-and-stock deal to strengthen its position in commercial and military platforms.
This proposed acquisition by Triumph comes barely 15 days after it acquired East Alton, Illinois-based Fabritech, Inc., a leading component manufacturer and repair station for critical military rotary-wing platforms for an undisclosed sum.
Dallas, Texas-based Vought, with 2009 sales of $1.9 billion is a leading global manufacturer of aerostructures for commercial, military and business jet aircraft.
Vought's customers are global aerospace original equipment manufacturers who account for over 80 of Vought's revenue from sole source, long-term contracts.
Vought works on aircrafts like Boeing 747-8, Boeing 767, Boeing 777, Airbus A330/340, Boeing C-17, Boeing V-22, Northrop Grumman Global Hawk and Gulfstream G450 and G550.
Wayne, Pennsylvania-based Triumph said that Vought's shareholders will get 7.5 million shares and $525 million of cash.
