Triumph Group plans to purchase Vought Aircraft Industries from The Carlyle Group for cash and stock consideration of $1.44bn.
Texas-based Vought manufactures aerostructures for commercial, military and business jet aircraft including fuselages, wings, empennages, nacelles and helicopter cabins.
The acquired business will be named Triumph Aerostructures – Vought Aircraft Division and the deal includes the retirement of Vought’s debt.
Triumph’s chairman and CEO Richard C Ill said that this was an important acquisition for Triumph as it would advance its technical capabilities and enhance its ability to offer aerostructure systems solutions.
“The integration of Vought with Triumph will create a leading tier one-capable supplier with strong positions in commercial and military platforms,” he said.
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