Triumph Group, Inc. of Berwyn announced a definitive agreement to acquire for approximately $70 million the hydraulic actuation business of GE Aviation.

GE’s hydraulic actuation business consists of three facilities located in Yakima, Wa., Cheltenham, England and the Isle of Man. The business will be included in Triumph’s Aerospace Systems Group. The business is expected to add approximately $180 million in annual revenue and to be immediately accretive to earnings.

With approximately 475 employees, the business is a technology leader in actuation systems and does extensive business with Boeing, Airbus and other major air framers. 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.

“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 president and chief executive officer.  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. We are pleased that the existing management team will remain with Triumph to continue to deliver exceptional value to their global customers.”

The purchase is subject to regulatory approvals and other customary closing conditions and is expected to close in the current fiscal quarter.

Triumph Group, Inc., headquartered in Berwyn, 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.

Links: www.geaviation.com and www.triumphgroup.com