Triumph Group

AAR Prices Upsized Offering of Senior Notes to Finance Triumph Product Support Acquisition

Retrieved on: 
Wednesday, February 14, 2024
Acquisition, WOOD, Regulation, Person, Aviation, Original equipment manufacturer, Sale, AAR, Line of credit, Triumph Group, TGI, AIR, Hand, Credit, Security (finance)

The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes.

Key Points: 
  • The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes.
  • The Company intends to use the net proceeds of the senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
  • If the senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.
  • Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer.

AAR announces update to financing of Triumph Product Support acquisition

Retrieved on: 
Wednesday, February 14, 2024
Acquisition, WOOD, Regulation, Person, Aviation, Original equipment manufacturer, Sale, AAR, Line of credit, Triumph Group, TGI, AIR, Hand, Credit, Security (finance)

The Company intends to use the net proceeds of the proposed senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").

Key Points: 
  • The Company intends to use the net proceeds of the proposed senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
  • If the proposed senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.
  • Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer.
  • Substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Escrow Issuer will merge with and into the Company, with the Company continuing as the surviving entity.

TRIUMPH ESTABLISHES NEW THERMAL SOLUTIONS DEVELOPMENT CENTER

Retrieved on: 
Monday, February 5, 2024
Community development, Sikorsky, General Atomics, Triumph Group, Control, Lockheed, Bell, Grumman, Engineering

RADNOR, Pa., Feb. 5, 2024 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) (NYSE: TGI) announces the establishment of a state-of-the-art Thermal Solutions Development Center located in the existing TRIUMPH Systems Electronics and Controls business in West Hartford, Connecticut.

Key Points: 
  • RADNOR, Pa., Feb. 5, 2024 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) (NYSE: TGI) announces the establishment of a state-of-the-art Thermal Solutions Development Center located in the existing TRIUMPH Systems Electronics and Controls business in West Hartford, Connecticut.
  • The opening of the Thermal Solutions Development Center is further evidence of TRIUMPH expanding on their already extensive thermal capabilities.
  • "TRIUMPH is excited to announce the opening of our new Thermal Solutions Development Center, a key milestone in the development of our industry leading thermal capabilities.
  • "We are increasingly engaged with the development of new thermal system solutions with key customers and partners such as Lockheed Martin, Northrop Grumman, Sikorsky, Bell, and General Atomics."

TRIUMPH to Webcast Third Quarter Fiscal Year 2024 Earnings Conference Call

Retrieved on: 
Monday, January 22, 2024
Triumph Group, TGI, Webcast, Broadcasting

RADNOR, Pa., Jan. 22, 2024 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) will release third quarter fiscal year 2024 earnings on February 7, 2024, and will host a conference call that day at 8:30 a.m. ET. A slide presentation will be included with the audio portion of the webcast.

Key Points: 
  • Live Webcast scheduled for 8:30 AM ET on February 7, 2024
    RADNOR, Pa., Jan. 22, 2024 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) will release third quarter fiscal year 2024 earnings on February 7, 2024, and will host a conference call that day at 8:30 a.m.
  • ET.
  • A slide presentation will be included with the audio portion of the webcast.
  • TRIUMPH, headquartered in Radnor, Pennsylvania, designs, develops, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, subsystems and components.

TRIUMPH RECEIVES ENVIRONMENTAL AWARDS

Retrieved on: 
Wednesday, January 17, 2024
City, ESG, Triumph Group, Combat support, Risk management, Air pollution, Air North, TGI, Atmosphere, Renewable energy

RADNOR, Pa. , Jan. 17, 2024 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) [NYSE:TGI] today announced that its Product Support business in Grand Prairie, Texas recently received multiple environmental awards from the City of Grand Prairie.

Key Points: 
  • RADNOR, Pa. , Jan. 17, 2024 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) [NYSE:TGI] today announced that its Product Support business in Grand Prairie, Texas recently received multiple environmental awards from the City of Grand Prairie.
  • TRIUMPH received the 2022-2023 Pretreatment 100% Compliance Award, an award that acknowledges their compliance with the city's wastewater pretreatment and environmental requirements.
  • Along with receiving the 2022-2023 award, TRIUMPH was recognized for their achievement for winning the Pretreatment 100% Compliance Award for the last five years.
  • "These awards are just one example of the dedication we have to improving our overall environmental standards in the Dallas-Fort Worth area," said Jim Berberet, President of TRIUMPH Product Support.

TRIUMPH ANNOUNCES SALE OF PRODUCT SUPPORT BUSINESS TO AAR

Retrieved on: 
Thursday, December 21, 2023
Slate, AIR, Goldman Sachs, MRO, OEM, LLP, Combat support, Interiors, Control, TGI, Adjustment, IP, Electronics, AAR, Triumph Group

RADNOR, Pa., Dec. 21, 2023 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") announced today that it has entered into a definitive agreement with AAR CORP. (NYSE: AIR) to sell its Product Support business. The transaction is valued at $725 million, representing a 14.5x trailing 12 months Adjusted EBITDAP multiple as of September 30, 2023. The primary intended use of proceeds from the transaction is debt reduction. The net after-tax proceeds are expected to be approximately $700 million, resulting in pro forma net leverage of approximately 4.0x net debt to Adjusted EBITDAP as of March 2024.

Key Points: 
  • RADNOR, Pa., Dec. 21, 2023 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") announced today that it has entered into a definitive agreement with AAR CORP. (NYSE: AIR) to sell its Product Support business.
  • The Product Support business is an industry leader in the Maintenance, Repair and Overhaul (MRO) of structures and airframe and engine accessories, servicing both the commercial and military aftermarkets across five primary locations.
  • This transaction creates a win-win-win arrangement between TRIUMPH, AAR, and our customers by enabling TRIUMPH to greatly accelerate our deleveraging progress while placing our third-party Product Support business with a market-leading MRO company that has a proven track record of customer support" said Dan Crowley, TRIUMPH's chairman, president, and chief executive officer.
  • Goldman Sachs is acting as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel on the transaction to TRIUMPH.

AAR announces agreement to acquire Triumph Group's Product Support business, a leading provider of MRO services to the global aviation aftermarket

Retrieved on: 
Thursday, December 21, 2023
Workforce, AIR, MRO, DER, Triumph Group, Acquisition, WOOD, Latham & Watkins, Triumph, BofA Securities, Combat support, Original equipment manufacturer, Bank of America, Wells Fargo, TGI, Growth, Aviation, PMA, AAR

Triumph Product Support is a leading global provider of specialized maintenance, repair, and overhaul capabilities for critical aircraft components in the commercial and defense markets.

Key Points: 
  • Triumph Product Support is a leading global provider of specialized maintenance, repair, and overhaul capabilities for critical aircraft components in the commercial and defense markets.
  • The company provides MRO services for structural components, engine and airframe accessories, interior refurbishment, and wheels and brakes.
  • Triumph Product Support services both the commercial and military aftermarkets across five primary locations with a highly skilled workforce of over 700 employees.
  • "Today we are very excited to announce the execution of an agreement with Triumph to acquire its Product Support business.

Aircraft Gearbox Market worth $4.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Monday, November 13, 2023
Aircraft, Triumph Group, Aviation, Research, Safety, UAV, Hydraulics, Timken Company, Electricity, Unmanned aerial vehicle, Advanced Air Mobility, Compressor, Commercial aviation, OEM, Component, Static, Rotorcraft, Fixed, Growth, Original equipment manufacturer, Region, General aviation, Business, Lubricant, Transmission (mechanical device), Airline, Adhesive, Transport, Jet fuel, Turbofan, Liebherr, Turboshaft

Engine gearboxes play a crucial role in transmitting power from the engine to other aircraft components, driving the prominence of this segment in the market.

Key Points: 
  • Engine gearboxes play a crucial role in transmitting power from the engine to other aircraft components, driving the prominence of this segment in the market.
  • Based on the component, the electric motor driven segment is projected to be the highest CAGR rate for the aircraft gearbox market during the forecast period.
  • Based on the platform, the civil aircraft segment is projected to grow at the highest CAGR rate for the aircraft gearbox market during the forecast period.
  • North America is projected to hold the higher market share for the aircraft gearbox industry during the forecast period.

Glancy Prongay & Murray LLP Announces Investigation of Triumph Group, Inc. (TGI)

Retrieved on: 
Thursday, November 2, 2023
Class Action Lawsuit, Professional Services, Legal, Suite, Helmsley Building, Triumph Group, Park Avenue, GPM, NYSE, TGI

Glancy Prongay & Murray LLP (“GPM”) announces its investigation of Triumph Group, Inc. (NYSE: TGI) concerning the Company and its directors’ and officers’ possible violations of state laws.

Key Points: 
  • Glancy Prongay & Murray LLP (“GPM”) announces its investigation of Triumph Group, Inc. (NYSE: TGI) concerning the Company and its directors’ and officers’ possible violations of state laws.
  • If you inquire by email please include your mailing address, telephone number, and the number of shares purchased and held.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20231102218084/en/

HONEYWELL SELECTS TRIUMPH TO PROVIDE THE ELECTRONIC FUEL CONTROL UNIT FOR NEXT GENERATION AUXILIARY POWER UNIT

Retrieved on: 
Thursday, November 2, 2023
NYSE, Control, Auxiliary power unit, Honeywell Aerospace, Honeywell, Aviation, Triumph Group, Electronic control unit, TGI, ECU, APU, Apus, Maintenance (technical), Electronics

RADNOR, Pa., Nov. 2, 2023 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) [NYSE:TGI today announced that its Systems, Electronics and Controls business has been selected by Honeywell Aerospace to provide the next-generation, engine-mounted Electronic Control Unit (ECU) for future Auxiliary Power Unit (APU) models for both commercial and non-commercial aircraft.

Key Points: 
  • RADNOR, Pa., Nov. 2, 2023 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) [NYSE:TGI today announced that its Systems, Electronics and Controls business has been selected by Honeywell Aerospace to provide the next-generation, engine-mounted Electronic Control Unit (ECU) for future Auxiliary Power Unit (APU) models for both commercial and non-commercial aircraft.
  • Utilizing proprietary technology, TRIUMPH's team of experienced control engineers are designing and manufacturing an ECU for Honeywell's next generation APU with cutting-edge processors which meet the latest cybersecurity requirements.
  • "We are excited to further our relationship with Honeywell and provide an industry-leading processor design for their in-service and future APUs."
  • TRIUMPH, headquartered in Radnor, Pennsylvania, designs, develops, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems and components.