Major Victory: Finalization of $3 Billion Purchase Agreement
In a significant move for the aerospace and defense industry, Jorge L. Valladares III has taken over as the CEO of Triumph Group, succeeding Daniel J. Crowley who led the company since 2016. This change comes as the company is acquired by private equity firms Warburg Pincus and Berkshire Partners in a deal worth approximately $3 billion.
Valladares, with decades of aerospace industry leadership under his belt, most recently served as Chief Operating Officer of TransDigm, a major global supplier of engineered aircraft components. His appointment is expected to bring a wealth of experience and expertise to Triumph, as the company embarks on its next phase of growth.
The acquisition makes Triumph an independent, privately-held company, a move intended to accelerate its growth and strengthen its position as a premier provider of mission-critical aerospace and defense systems and components. This transition will serve both OEM and aftermarket customers, with the components provided meeting their evolving needs.
Warburg Pincus and Berkshire Partners, both experienced investors in the aerospace and defense sectors, will provide financial and strategic support aimed at driving growth and improving performance. Their involvement aligns with broader industry trends of consolidation and transformation in the aerospace supply chain, aiming for greater agility and resilience post-pandemic.
In his new role, Valladares is expected to leverage his extensive industry expertise to lead Triumph through its next phase of innovation, operational improvement, and strategic expansion. The private equity firms are excited to collaborate with Valladares in driving Triumph's growth.
Dan Crowley, the former CEO of Triumph, is proud of the progress the company has made in the past decade and its impact on the industry. He looks forward to seeing Triumph continue to provide mission-critical engineered systems and components under Valladares' leadership.
Dan Zamlong, Managing Director at Warburg Pincus, and Blake Gottesman, Managing Director at Berkshire Partners, express their excitement about supporting Triumph's leadership team in innovating to deliver world-class solutions for their customers. Valladares, for his part, is looking forward to meeting the evolving needs of Triumph's customers and leading the company in its next phase of growth.
[1] Triumph Group Press Release, "Triumph Group Announces New CEO and Private Equity Acquisition," www.triumphgroup.com/news
[2] TransDigm Press Release, "Jorge L. Valladares III to Step Down as COO of TransDigm," www.transdigm.com/news
[3] Warburg Pincus Press Release, "Warburg Pincus and Berkshire Partners Acquire Triumph Group," www.warburgpincus.com/news
[4] Berkshire Partners Press Release, "Berkshire Partners and Warburg Pincus Announce Acquisition of Triumph Group," www.berkshirepartners.com/news
[5] Financial Times, "Triumph Group Sold to Private Equity Firms in $3bn Deal," www.ft.com/content/xxxxxxxxxx
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