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Wednesday, July 23, 2014

Triumph Group Expands Into Aerospace Engine Controls with Acquisition

Triumph GroupTriumph Group Inc. has agreed to purchase a pump and engine controls business in an effort to expand those offerings in its aerostructure manufacturing business, American Machinist (AM) reports.

Triumph Group, which provides manufacturing, design, repair and refurbishment services for aerospace vehicles, accessories and systems, has come to an agreement with United Technologies Corp. (UTC) to purchase Goodrich Pump & Engine Control Systems (GPECS), a part of Goodrich Corp., which UTC acquired for $18.4 billion over a year ago. The final deal between UTC and Triumph Group is expected to close later this quarter, though figures have not been released, according to AM.

GPECS, which manufactures “electronic engine controls, fuel metering units and main fuel pumps for OEM and aftermarket markets,” will become part of Triumph’s Aerospace Systems Group, under the name Triumph Engine Control Systems LLC. AM reports that the acquisition could add approximately $195 million to Triumph’s annual revenues. The transfer will retain GPECS management; it is currently unclear what will happen to the 350 employees at the company’s current West Hartford, Conn., facility.

“The acquisition of GPECS will provide Triumph with proprietary capabilities in a market where we do not currently participate,” Triumph President and CEO Jeffry D. Frisby said in a statement. “In addition, the acquisition will enhance our ties to existing customers while also further diversifying our customer base due to GPECS’s strong alignment with all major engine OEMs and the U.S. Army.”

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