Triumph Group Inc. agreed to buy GE Aviation’s hydraulic actuation business, including three plants, for approximately $70 million. The business with be part of Triumph’s Aerospace Systems Group, which manufactures and rebuilds aerospace structures, systems, and components. Triumph is a portfolio of more than 40 companies manufacturing aerostructures, aircraft components, and aerospace subassemblies systems.
The GE hydraulic actuation business operates plants in Yakima, Wash., Cheltenham, England, and the Isle of Man. Triumph Group predicted the business would add approximately $180 million annually to its revenues.
The purchase is subject to regulatory approvals and other standard closing conditions. Triumph Group indicated the sale would be final during the current fiscal quarter.
The three plants produce systems like landing gear actuation systems, door actuation, nose-wheel steering, hydraulic fuses, manifolds, flight control actuation and locking mechanisms, for aircraft builders like Airbus, Boeing, and other commercial and military aircraft manufacturers.
“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,” according to Jeffry D. Frisby, Triumph’s president and CEO.
“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,” he continued.