Private equity firms Warburg Pincus and Berkshire Partners have agrered to acquire aircraft parts manufacturer Triumph Group in a take private deal valued at approximately $3bn, including debt, according to a reports.
The reports cite a statement by the company as confirming a purchase price of $26 per share, representing a 39% premium over Triumph’s closing price on Friday and more than double its value in early October, when Bloomberg first reported that the company was exploring a potential sale.
Triumph, which provides parts and maintenance services for both commercial and military aircraft, currently has a market capitalisation of $1.45bn, according to LSEG data. The company’s long-term debt stood at approximately $960m as of September.