Triumph Group, a US aerospace supplier, has reached an agreement to be acquired by private equity firms Warburg Pincus and Berkshire Partners for approximately $2 billion. This deal will transition the publicly traded company back into private ownership.

On February 3, Triumph announced that the acquisition would be executed at a price of $26 per share, valuing the company at around $3 billion when factoring in its $900 million debt. Triumph specializes in manufacturing components for various aircraft, including commercial, military, and business jets, producing items such as flight-control cables, brake components, and landing gear systems.

Triumph's CEO, Dan Crowley, expressed satisfaction with the agreement, highlighting that it represents a successful outcome for shareholders by providing immediate cash value. The acquisition is expected to finalize in the latter half of the year, pending regulatory and shareholder approvals, although the board has already endorsed the proposal.

Warburg Pincus managing director Dan Zamlong emphasized Triumph's strong reputation in the aerospace sector and expressed enthusiasm for the partnership aimed at fostering future growth. Crowley noted that Triumph has effectively optimized its portfolio, positioning itself as a key provider of essential engineering systems and proprietary components for both original equipment manufacturers (OEM) and aftermarket customers.

In recent years, Triumph has divested several significant aerostructures manufacturing programs, including operations related to Gulfstream business jets and a facility in Florida that produced components for Boeing aircraft. Crowley reiterated that the acquisition acknowledges Triumph's status as a valuable provider in the aerospace industry.