Triumph Group (TRIUMPH) has reported the completion of its acquisition by private equity firms Warburg Pincus and Berkshire Partners, transforming the aerospace and defence supplier into an independent, privately held company. The move is intended to accelerate the company's growth and strengthen its position as a leading provider of mission-critical engineered systems and proprietary components for both OEM and aftermarket customers.
As part of the transition, Jorge L. Valladares III has been appointed Chief Executive Officer, succeeding Daniel J. Crowley, who led the company since 2016. Valladares brings decades of aerospace leadership experience, most recently serving as Chief Operating Officer at TransDigm, a global supplier of engineered aircraft components. His appointment is expected to support TRIUMPH's strategic growth as a private company.
Blake Gottesman, Managing Director at Berkshire Partners, expressed confidence in the future of Triumph under Valladares' leadership: “TRIUMPH is well-positioned to accelerate its growth as a privately held company, strengthening its position as a highly valued aerospace and defence supplier. We look forward to partnering with Jorge, Warburg Pincus, and the impressive team at TRIUMPH in this next chapter of growth.”
Outgoing CEO Dan Crowley reflected on TRIUMPH's progress, saying, “I am incredibly proud of the progress that Triumph has made in the past decade and the impact it has had on the industry. Berkshire Partners and Warburg Pincus have strong track records as experienced investors in the sector, generating growth and long-term value creation, and will be great partners to the TRIUMPH team.”
Warburg Pincus and Berkshire Partners both have extensive experience investing in aerospace, defence, and industrial sectors, with portfolios that have included TransDigm, Consolidated Precision Products, CAMP Systems, Wencor Group, Hexcel, and Amsafe, among others. Their expertise is expected to guide Triumph through its next phase of innovation and expansion.
