BERWYN, Pa.--(BUSINESS WIRE)--Oct. 21, 2015--
Triumph Group, Inc. (NYSE: TGI) today announced the acquisition
of Fairchild Controls Corporation, a leading provider of proprietary
thermal management systems, auxiliary power generation systems and
related aftermarket spares and repairs, from Airbus Defense and Space,
Inc. The acquired business, which is based in Frederick, Maryland, will
operate as Triumph Thermal Systems -Maryland and be included in the
Aerospace Systems Group. The business is expected to add approximately
$45.0 million in annual revenue and to be immediately accretive to
Employing approximately 150 employees, the company’s key product
offerings include electrically-driven vapor cycle systems and auxiliary
power generation technology which delivers supplementary hydraulic power
for commercial aircraft and military platforms. The company also
provides proprietary aftermarket spares repair and overhaul services to
a large, global installed base of over 3,500 systems.
Richard C. Ill, Triumph’s President and Chief Executive Officer, said,
“We are pleased to have acquired Fairchild Controls, which will augment
our current capabilities and allow us to offer both air and liquid
cooling systems for thermal management. Through this acquisition, we
obtained custom, high reliability control solutions with a recurring
proprietary aftermarket and have positioned ourselves as a world-class
provider of thermal management and auxiliary power generation systems.
We are pleased that the management team, led by Peter Borgel, will
remain with Triumph to continue to deliver exceptional value to their
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs,
engineers, manufactures, repairs and overhauls a broad portfolio of
aerostructures, aircraft components, accessories, subassemblies and
systems. The company serves a broad, worldwide spectrum of the aviation
industry, including original equipment manufacturers of commercial,
regional, business and military aircraft and aircraft components, as
well as commercial and regional airlines and air cargo carriers.
Airbus Defense and Space, Inc., headquartered in Herndon, VA, offers a
broad array of advanced solutions to meet U.S. military and commercial
requirements, including fixed-and rotary-wing aircraft, homeland
security systems, public safety communications, defense electronics and
avionics, and threat detection systems.
More information about Triumph Group can be found on the company’s
website at http://www.triumphgroup.com.
Statements in this release which are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995, including statements of
expected additional revenue and accretion. All forward-looking
statements involve risks and uncertainties which could affect the
company’s actual results and could cause its actual results to differ
materially from those expressed in any forward looking statements made
by, or on behalf of, the company. Further information regarding the
important factors that could cause actual results to differ from
projected results can be found in Triumph Group’s reports filed with the
SEC, including our Annual Report on Form 10-K for the fiscal year ended
March 31, 2015.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151021005834/en/
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo
Vice President – Tax &