Private equity firm Arlington Capital Partners has closed the transaction to acquire Triumph Group’s forming and fabrication facilities.
Financial details of the transaction were not disclosed.
Arlington Capital signed a definitive agreement for the acquisition in January. Triumph Group sold the business as part of its transformation plan. The acquired business is named Radius Aerospace and will operate independently.
Radius operates in fabrications, forming, special processing, bonding and other vertically integrated products and solutions.
The business serves blue-chip aerospace original equipment manufacturers (OEM) and Tier 1 aerospace and defence customers. It is specialised in processes serving customers on structures and engine platforms, including the 787, A320neo, F-35, G7500, and G650.
Arlington Capital managing partner Peter Manos said: “In addition to the current robust book of business, we plan to continue to expand our strong customer relationships, leveraging the company’s unique forming, fabricating and special processing capabilities and track record of delivering high-value solutions. We plan to further augment the company’s growth and capabilities through both organic and strategic add-on initiatives.”
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By GlobalDataRadius will be led by CEO Tony Johnson, who will also join Arlington Capital’s board of directors. Bill Boyd and Tim Lohrenz will respectively serve as chief operations officer and chief financial officer.
Johnson said: “I believe Radius Aerospace will have a significant opportunity to unlock its true potential and expand its offerings and services while providing the ‘Best Value’ to our customers.”
Triumph’s fabrications business operates five locations throughout the US. These sites support complex sheet metal components and assemblies for fixed wing and rotorcraft platforms.
The solutions offered by the company include stretch, hydro, titanium hot/super plastic forming, bonding, bulge and drop hammer forming, as well as chemical milling, welding, auto riveting, titanium Sol-Gel, anodising and other coating processes.
The businesses generated combined revenues of around $150m during the fiscal year ending 31 March last year.
