Triumph Group entered a definitive agreement to sell its composites operations to Arlington Capital Partners. The sale includes the Triumph Aerospace Structures composites locations in Milledgeville, GA, and Rayong, Thailand.

“With the sale of Triumph’s composites business, Triumph continues to execute on its previously announced Aerospace Structures strategic review. 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,” Daniel Crowley, president and CEO of Triumph Group, said. “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.”

The operations cover approximately 800,000 square feet of factory space and employ approximately 600 people. The composites business provides structural and engine composite fabrications and assemblies across commercial, business jet and defense platforms, including the Boeing 787, 777 and V-22; the Airbus A320, A330 and A350; the Embraer E-2; the Northrop Grumman Global Hawk; and the Gulfstream G650/700.

Since 2016, Triumph has divested 13 non-core businesses as part of its transformation efforts to de-lever the company and enhance margins.

This transaction is subject to customary closing conditions and is expected to close in Triumph’s fiscal Q2/21. Following the close of the transaction, the business will retain its management, technical and supporting staff, and will continue operations at the current facilities.
Lazard acted as exclusive financial advisor to Triumph on the transaction.

Triumph Group designs, engineers, manufactures, repairs and overhauls a portfolio of aerospace and defense systems, components and structures.

Arlington Capital Partners is a Washington, D.C.-based private equity firm.