Triumph Group, Inc., based in Berwyn, Pa, announced on May 27 that it will acquire the hydraulic actuation business of GE Aviation.
GE’s hydraulic actuation business consists of three facilities located in Yakima, Washington, Cheltenham, England and the Isle of Man and will be included in the Aerospace Systems Group.
“The addition of GE Aviation’s hydraulic actuation business will be a good fit within our aerospace systems segment and provide additional proprietary systems that augment our existing hydraulic system capabilities, “ said Jeffry D. Frisby, Triumph’s CEO. “In addition, this accretive acquisition furthers our strategic goals of increasing our global footprint, optimizing our segment and customer balance, and positioning ourselves for future growth.”
The business is expected to add approximately $180 million in annual revenue.
The purchase price will be approximately $70 million
Employing approximately 475 employees, the business is a technology leader in actuation systems and does extensive business with Boeing, Airbus and other major airframers. Key product offerings include complete landing gear actuation systems, door actuation, nose-wheel steering, hydraulic fuses, manifolds, flight control actuation and locking mechanisms for the commercial, military and business jet markets.
Triumph Group, Inc., 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.