Triumph Group (TGI) has shared an update.
On March 1, 2024, Triumph Group completed the sale of its Product Support business to AAR Corp. for $725 million in cash, with the potential for customary adjustments. This strategic transaction, initially penned in December 2023, signifies a notable shift in Triumph Group’s portfolio and offers stakeholders an example of the dynamic nature of the aerospace industry’s market transactions. Details of the deal, which have been publicly filed and are not considered to be final for legal purposes, can be accessed through the SEC. A press release regarding the closure of the deal was also disseminated, further highlighting the importance of this acquisition in the sector.
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