Affiliates of Berkshire Partners, a multi-sector specialist investor in private and public equity, and Warburg Pincus, an aerospace and defense and industrial technology sectors investor, recently entered into an agreement to purchase Radnor-based TRIUMPH through a newly formed entity for approximately $3 billion.
TRIUMPH designs, develops, manufactures, repairs and provides spare parts to the global aviation industry. After the deal completes, it will become a privately held company jointly controlled by Berkshire Partners and Warburg Pincus and will no longer trade on the New York Stock Exchange.
TRIUMPH shareholders will receive $26 in cash per share.
“We are pleased to have reached this agreement, which reflects the culmination of the board’s robust process and will deliver immediate, certain and premium cash value to our shareholders,” Dan Crowley, TRIUMPH’s chairman, president and CEO, said. “As a privately held company in partnership with Berkshire Partners and Warburg Pincus, TRIUMPH will have an enhanced ability to meet our customers’ evolving needs and provide more opportunities for our valued employees.”
The deal is expected to close during the second half of the year and is subject to customary closing conditions. TRIUMPH’s board of directors unanimously approved the agreement.
TRIUMPH will release its third quarter fiscal 2025 earnings by Feb. 10.