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Triumph Group Announces Acquisition of North American Aircraft Services, Inc.

BERWYN, Pa.--(BUSINESS WIRE)--Oct. 17, 2014-- Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of North American Aircraft Services, Inc. (“NAAS”), a leading provider of aviation maintenance, repair and overhaul (“MRO”) services focused primarily on plane-side aircraft fuel systems. The acquired business will operate as Triumph Aviation Services – NAAS Division and be included in the Aftermarket Services Group. The business is expected to add approximately $35.0 million in annual revenue and to be immediately accretive to earnings.

Based in San Antonio, Texas, NAAS delivers line maintenance services, ground support maintenance, routine and emergency fuel systems maintenance and repair, fuel leak detection and fuel bladder cell repair services. The company employs approximately 300 people, the majority of whom are located at FBO business units throughout the United States, as well as at international locations. NAAS does extensive business with Boeing, Airbus, Northrop Grumman, Southwest Airlines, FedEx and UPS.

Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “We are pleased to have acquired Triumph Aviation Services – NAAS Division, which supports our stated strategy to accelerate growth in our aftermarket business. This acquisition creates an opportunity to move towards a point of use service model and provide our customers with plane-side solutions. Through NAAS’ extensive network of global MRO locations, Triumph will be well positioned to provide an expanded offering of services to our global customers. In addition, this acquisition furthers our strategic goal of optimizing our segment and customer balance, expanding our global footprint, and positioning ourselves for future profitable growth. We are also pleased that NAAS’ strong existing management team, led by Scott Hagler, will remain with Triumph as we continue to deliver exceptional value to customers.”

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.

More information about Triumph 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. 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, including statements of expected revenues or accretion to earnings. 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, 2014.

Source: Triumph Group, Inc.

Triumph Group, Inc.
Sheila G. Spagnolo
Vice President-Tax & Investor Relations
610-251-1000
sspagnolo@triumphgroup.com