Successful Closing of $3 Billion Takeover Agreement
Triumph Group Acquired by Private Equity Firms, Aims for Growth as Independent Entity
In a significant move for the aerospace and defense industry, Triumph Group has been acquired by private equity firms Warburg Pincus and Berkshire Partners for approximately $3 billion. The deal makes Triumph an independent, privately held company, allowing for more agile decision-making and accelerated growth.
Blake Gottesman, Managing Director at Berkshire Partners, expressed his enthusiasm about partnering with Triumph, stating, "We are looking forward to working with the Triumph team in the next chapter of growth." Dan Zamlong, Managing Director at Warburg Pincus, shared similar sentiments, expressing excitement for supporting Triumph's leadership in driving innovation.
Jorge L. Valladares III, the new CEO of Triumph, succeeding Daniel J. Crowley, aims to meet the evolving needs of Triumph's customers. Valladares, who previously served as COO of TransDigm, brings a wealth of aerospace industry experience to the table. He looks forward to working closely with the Triumph team to further strengthen and expand the company's capabilities.
The growth strategy under Valladares' leadership focuses on leveraging Triumph's new status as a privately-held company to enable more agile decision-making. The company aims to strengthen and expand its capabilities as a premier provider of mission-critical aerospace and defense systems and components for both OEM and aftermarket customers.
Key elements of the growth strategy include operating independently as a privately-held company, allowing for more flexibility and quicker execution of strategic initiatives. The company will also focus on innovation and expansion in engineered aerospace systems and proprietary components.
Warburg Pincus and Berkshire Partners, both experienced investors in the aerospace and defense sector, will provide operational and financial backing to support long-term value creation and accelerated innovation. Dan Crowley, the outgoing CEO, is confident that Valladares' experience and track record will benefit all Triumph stakeholders.
Triumph serves both OEM and aftermarket needs and will continue to provide mission-critical engineered systems and components for the aerospace and defense sectors. The company is well-positioned to accelerate its growth as a privately held company, with the support of its new private equity owners and the leadership of Jorge L. Valladares III.
Jorge L. Valladares III expressed enthusiasm about leading Triumph in its next phase of growth, stating, "I am excited about the opportunity to work with the Triumph team to further strengthen and expand the company's capabilities." Warburg Pincus and Berkshire Partners are equally excited to collaborate with Valladares in driving Triumph's growth.
Triumph's CEO, Dan Crowley, is proud of the progress the company has made in the past decade and its impact on the industry. He is confident that the company is well-positioned for continued success under its new ownership and leadership.
[1] Triumph Group's Growth Strategy [2] Triumph Group Acquired by Private Equity Firms for $3 Billion [3] Berkshire Partners and Warburg Pincus to Acquire Triumph Group
[1] Triumph Group's growth strategy will focus on leveraging private equity finance to enable more agile decision-making, accelerate innovation, and strengthen and expand its capabilities as a premier provider of mission-critical aerospace and defense systems and components.
[2] The business strategy of Triumph Group has been significantly influenced as it was acquired for approximately $3 billion by private equity firms Warburg Pincus and Berkshire Partners, transitioning the company to a privately-held entity for quicker execution of strategic initiatives.
[3] In a fundamental shift for the aerospace and defense industry, the financial future of Triumph Group has been revamped with its acquisition by private equity firms Warburg Pincus and Berkshire Partners, triggering the company's ambitions for growth in its new private business structure.
