Triumph CEO says management team and employees will stay with new company.
BERWYN, Pa.—Triumph Group, Inc. has completed its previously announced all-cash acquisition of Canadian aerospace parts manufacturer General Donlee Canada Inc.
A manufacturer of flight critical complex machined components, General Donlee agreed last June to the deal for CDN$5.50 per share.
The acquired business will operate as Triumph Gear Systems-Toronto and will be included in Triumph’s Aerospace Systems Group. The business is expected to add approximately $60 million in annual revenue and to be immediately accretive to earnings.
Based in Toronto, General Donlee makes precision machined products for the aerospace, nuclear and oil and gas industries. Primary product lines include engine shafts, thrust links, rotorcraft masts and landing gear applications. Key customers include GE Aviation and Bell Helicopter.
“We are excited about the growth opportunities at the company, which adds a strong position in engine and main rotor shafts to our product capabilities,” says Jeffry Frisby, Triumph’s president and CEO. “Through this acquisition, we obtain proprietary manufacturing methods, technological know-how and an outstanding group of employees. We are also pleased that the management team will remain with Triumph to continue to deliver exceptional value to their customers.”
Headquartered in Berwyn, Penn., Triumph Group, Inc. designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems.