Triumph Group announces sale of fabrications business
Triumph Group announced a definitive agreement to sell Triumph Fabrications to Arlington Capital Partners. The operations included in the agreement are in Fort Worth, Texas; Hot Springs, Arkansas; Phoenix, Arizona; San Diego, California; and Shelbyville, Indiana. Combined, the businesses generated revenues of approximately $150M during Triumph Group's fiscal year ended March 31, 2018. Since 2016, Triumph has divested ten non-core businesses, including this announcement, as part of its transformation efforts to de-lever the company, enhance margins and position the company for long-term success. The transaction is subject to customary closing conditions and is expected to close in the next few months. Following the close of the transaction, the business will retain its management, technical and supporting staff, and will continue operations at the current facilities.