Michael Bruno, Washington
Triumph Group continues to sell business units as it tries to turn-around its finances, this time with a deal to sell three MRO units to The Gores Group.
Triumph said Dec. 7 it is selling Triumph Air Repair, the Auxiliary Power Unit (APU) Overhaul Operations of Triumph Aviation Services Asia, and Triumph Engines Tempe to Gores Small Capitalization Partners. Terms were not disclosed, but Triumph said the units generated about $81 million total in Triumphs latest fiscal year that ended March 31.
Gores Group Managing Director Jon Gimbel said the businesses will keep management, technical and supporting staff, and will continue operations at current facilities in Arizona and Thailand. Full integration of the co…
Read the full article at: http://mro-network.com/news/2016/12/triumph-group-sells-three-mro-business-restructuring-continues/17611