Triumph Swoops In To Buy Vought

Triumph Group strike the top cost given late 2008 on Tuesday after the aircraft manufacturer and correct association concluded to take Vought Aircraft from the Carlyle Group, a Washington D.C. in isolation equity firm.According to the conditions of the deal, Wayne, Penn.-based Triumph Group ( TGI - news - people ) will compensate the Carlyle Group $525 million in money and 7.5 million shares of the batch (valued at $460 million), and pretence $455 million in debt to move the sum cost of the understanding to $1.4 billion. The understanding gives the Carlyle Group a 31% interest in Triumph, and is approaching to close in July.emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/23/triumph-vought-aircraft-markets-equities-acquisition.html?partner=yahoobuzzInvestors jumped aboard Triumph on headlines of the acquisition, promulgation shares up 12.3%, or $7.51, to $68.73.The acquired blurb operation will work underneath the name Triumph Aerostructures-Vought Aircraft Division and is approaching to supplement $1 per share to Triumphs bottom line annually.Vought, now formed in Dallas, is a tellurian manufacturer of aerostructures for military, blurb operation and blurb uses. Customers embody strange apparatus manufacturers such as Boeing ( BA - news - people ), Airbus, Northrop Grumman ( NOC - news - people ) and Gulfstream International. The association warranted $1.9 billion in 2009. "This is an critical merger for Triumph as it will dramatically allege the technical capabilities and significantly raise the capability to suggest aerostructure systems solutions to the customers," says Chief Executive Richard Ill. "The multiple of Vought with Triumph will raise Triumphs products and complement offerings to the good of the customers, suppliers, employees and investors.",,2010/03/23/triumph-vought-aircraft-markets-equities-acquisition.htmlAccording to UBS researcher David Strauss, the biggest risk to Triumph is the bearing to the blurb aerospace market, that has experienced downturns in the past. "Boeing is Triumphs largest patron accounting for 22% of sales, a poignant decrease in Boeing prolongation rates could negatively affect Triumphs monetary results," he says.That regard hold small H2O with investors Tuesday, only days after Boeing voiced it was creation a gamble on the blurb airline industry and plans to travel prolongation of 747 and 777 aircraft over the subsequent couple of years. (See "Boeing Buckles Up For Airline Takeoff.")
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