Gores Group to acquire Triumph Group‘s business TurbineAero
On the 9th of February, the Gores Group, a global investment firm, and Triumph Group Inc. announced that Gores Small Capitalization Partners has completed the acquisition of Triumph’s U.S. Auxiliary Power Unit (APU) MRO business: Triumph Air Repair and Triumph Engines.
The completion of the transaction for the APU Overhaul Operations of Triumph Aviation Services – Asia is expected to close in March 2017. The combined businesses have been rebranded as TurbineAero, Inc.
TurbineAero is the world’s leading independent aerospace component maintenance, repair, and overhaul service provider focused on APUs and related products. The business provides military, commercial, and regional airline customers with a comprehensive maintenance solution for their legacy and new APU engine models.
The combined entity provides global coverage from two facilities located in Chandler, Arizona, and Chonburi, Thailand. In addition, it is a provider of hot-section component manufacturing and repair services for original equipment manufacturers, aircraft operators, and repair and overhaul providers, offering extensive and unique capabilities, including complex machining, engineering, inspection, non-destructive testing, and thermal coatings in its Tempe, Arizona facility.
As part of the formation of TurbineAero, industry executive Rob Higby has joined the company as Chief Executive Officer. “This is an exciting new chapter for the TurbineAero team, our industry partners, and our customers,” he said.
“With the Gores Group‘s growth expertise and the addition of several aviation and service focused executives, we are steadfast in our commitment to further increase industry defining service levels and our breadth of APU MRO service offerings that our customers around the world have come to expect,” Higby added.
Jon Gimbel, Managing Director of The Gores Group, commented: “We are excited about making this investment in the premier global APU MRO services company and partnering with Rob Higby and the TurbineAero team to help position the business as a standalone entity and accelerate its growth, both organically and through acquisitions.”
Rob Wilson, Dom Schiano and John Janitz (former senior executives from Honeywell, Textron, and TRW) have joined the board of directors and will provide strategic guidance to the business.