Triumph Group Sells Off Metal Finishing Operations
Specialty aerospace investment firm Aerospace Systems and Structures and Valence Surface Technologies have purchased the company’s Triumph Aerospace Structures Long and Large (L&L) machining and metal finishing operations.
Triumph Group Inc. has sold its Triumph Aerospace Structures Long and Large (L&L) machining and metal finishing operations to Aerospace Systems and Structures, a California specialty aerospace investment firm, and Valence Surface Technologies, an aerospace product finishing company, backed by Trive Capital, a $2 billion private equity firm with experience in the aerospace industry.
The L&L sale consists of Triumph Structures Los Angeles Inc. (TSLA) and Triumph Processing Inc. (TPI), which together employ approximately 400 people in the Los Angeles area. TSLA has four locations and specializes in the manufacture and assembly of large structural components including stringers, spars, chords, landing gear assemblies and beams as long as 180 feet. TPI, located in Lynwood, California, offers non-destructive testing, chemical processing and paint services to the global aerospace industry.
The transaction is subject to customary closing conditions.
In March, Triumph Group sold Triumph Structures Long Island LLC to Aero Structures Long Island Inc. The Westbury, New York, operation employs approximately 90 people, and machines, finishes and assembles bulkheads, floors, frames, bell cranks and other small metallic components.
“With the announcement of these three transactions with strategic buyers, Triumph continues to execute on its transformation plan, divesting non-core businesses to enable debt reduction and reinvestment in new areas of opportunity,” says Triumph Group President and CEO Dan Crowley. “I am confident that the new owners will be responsible stewards of these businesses and accelerate their performance as part of more specialized enterprises.”
Triumph Group, headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft structures, components, accessories, subassemblies and systems. Visit triumphgroup.com.