TORONTO, August 15, 2013 — Triumph Group Inc. agreed to acquire General Donlee Canada Inc., a manufacturer of “flight critical complex machined components,” for approximately $110.0 million in cash. The price would include all of General Donlee’s outstanding equity and retire its existing debt. The transaction is subject to customary closing conditions, including the approval of the company’s shareholders. Triumph said it expects to complete the purchase during the third quarter of FY 2014.
Triumph Group designs, manufactures, repairs and overhauls aerostructures, aircraft components, accessories, subassemblies and systems. It said the General Donlee organization would be added to its Aerospace Systems Group.
Toronto-based General Donlee manufactures precision-machined products for aerospace, nuclear and oil-and-gas customers. Its primary product lines include engine shafts, thrust links, rotorcraft masts and landing gear applications.
The machining capabilities of General Donlee include special expertise for producing splines, gearing and contour bores, and it claims it can handle workpieces up to 4 meters long, up to 10, 000 lb. Among its customers are GE Aviation and Bell Helicopter.
It has about 200 employees.
“The acquisition of General Donlee will add a strong position in engine and main rotor shafts to our product capabilities,” explained Jeffry D. Frisby, Triumph’s president and CEO. “The proprietary manufacturing methods and technological know-how of the workforce positions the company well as the preferred supplier on many of its products. In addition, the acquisition will enhance our ties to existing customers as well as further diversifying our customer base. We are pleased that the management teamwill remain at Triumph to continue to deliver exceptional value to their customers.”
Source: americanmachinist.com, © 2013 Penton
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