PR Newswire | Feb 10, 2021 09:53PM EST

Partners With Sale Of Its Red Oak Texas Operations

02/10 20:52 CST

Triumph Group Expands Aerospace Structures Divestitures To Arlington Capital Partners With Sale Of Its Red Oak Texas Operations BERWYN, Pa., Feb. 10, 2021

BERWYN, Pa., Feb. 10, 2021 /PRNewswire/ -- Triumph Group, Inc. (NYSE:TGI) announced today that it has entered into a definitive agreement to sell its Red Oak, Texas operations to Arlington Capital Partners. The sale includes the Red Oakfacility, together with its thermoplastic engineering capabilities. Arlington Capital Partners will combine the Red Oak business with the composites facilities it is separately acquiring from Triumph pursuant to a previously announced agreement.

"With the sale of Triumph's Red Oak and composites operations, Triumph continues to execute on its strategic path to value initiative to exit large structures manufacturing and reduce our leverage. 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 services," said Daniel Crowley, Triumph's Chairman and Chief Executive Officer.

The Red Oak site specializes in the manufacture of large, complex composite and metallic structures such as wing, empennage, and fuselage assemblies. The operations cover approximately 1.0 million square feet of factory space and employ approximately 400 people.

Both the Red Oak and previously announced composites transactions are subject to customary closing conditions and are expected to close in Triumph's fourth quarter of FY21.

Lazard acted as exclusive financial advisor to Triumph on the transaction.

About Triumph Group:Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about Triumph can be found on the company's website at http://www.triumphgroup.com.

About Arlington Capital Partners:Arlington Capital Partners is a Washington, DC-based private equity firm that is currently investing out of Arlington Capital Partners V, L.P., a $1.7 billion fund. The firm has managed approximately $4.0 billion of committed capital via five investment funds. Arlington is focused on middle market investment opportunities in growth industries including aerospace & defense, government services and technology, healthcare, and business services and software. The firm's professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor.Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their Company's position as leading competitors in their field. www.arlingtoncap.com

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SOURCE Triumph Group