Triumph Group of Berwyn, a firm serving the aviation industry, just completed its purchase of GE Aviation hydraulic actuation business.
The $70 million deal will add about $180 million in annual revenue to Triumph’s bottom line.
GE’s hydraulic actuation business has three facilities located in Yakima, Wa., Cheltenham, England and the Isle of Man. GE Aviation will now operate as Triumph Actuation Systems – Yakima and Triumph Actuation Systems – UK and IOM.
With 475 employees, the business is a technology leader in actuation systems and does extensive business with Boeing, Airbus and other major airframers.
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.
“We are pleased to have acquired Triumph Actuation Systems-Yakima and Triumph Actuation Systems-UK & IOM,” said Jeffry D. Frisby, Triumph’s president and CEO.
“Through this acquisition,” Frisby continued, “we obtain additional proprietary systems that augment our existing hydraulic system capabilities and an outstanding group of employees. In addition, this acquisition furthers our strategic goal of increasing our global footprint, optimizing our segment and customer balance, and positioning ourselves for future growth. We are also pleased that the existing management team will remain with Triumph.”
Triumph Group designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves the worldwide 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.