Triumph Group signs agreement to acquire General Donlee Canada

Triumph Group announced the signing of a definitive agreement to acquire General Donlee Canada, a leading manufacturer of flight critical complex machined components. Triumph will pay a total of approximately $110.0m in cash to acquire General Donlee’s outstanding equity and retire its existing debt. The transaction is subject to customary closing conditions, including the approval of the General Donlee shareholders, and is expected to be completed in the third quarter of fiscal year 2014. The acquired business will be included in the Aerospace Systems Group. The business is expected to add approximately $60.0m in annual revenue and to be immediately accretive to earnings. Based in Toronto, Canada, General Donlee is a leading manufacturer of precision machined products for the aerospace, nuclear and oil and gas industries. With approximately 200 employees, the company’s primary product lines include engine shafts, thrust links, rotorcraft masts and landing gear applications. Key customers include GE Aviation and Bell Helicopter.