Aerospace and defense systems supplier Triumph Group Inc. on Aug. 3 announced a deal to sell its composites operations to Washington, D.C.-based private equity firm Arlington Capital Partners. Terms were not disclosed.
The deal includes operations in Milledgeville, Ga., and Rayong, Thailand, that fabricate and assemble thermoset and same qualified resin transfer molding (SQRTM) composite components for aerospace customers.
Berwyn, Pa.-based Triumph has divested 13 noncore businesses since 2016.
"With the sale of Triumph's composites business, Triumph continues to execute on its previously announced aerospace structures strategic review. This transaction will further reduce debt and enhance liquidity while moving the company towards its future state as a leading provider of systems and aftermarket service," Triumph President and CEO Daniel Crowley said in a news release.
The operations being sold cover about 800,000 square feet of factory space and employ about 600 people. The composites business makes structural and engine composite fabrications and assemblies for commercial, business jet and defense platforms. Key programs supported by the sites include Boeing 787, 777 and V-22, Airbus A320, A330 and A350, Embraer E-2, Northrop Grumman Global Hawk, as well as the Gulfstream G650/700.
The deal is scheduled to close in the second quarter of 2021. Managers, technical and support staff will remain with the business, according to Triumph.