BERWYN, Pa.--(BUSINESS WIRE)--Triumph Group, Inc. (NYSE: TGI) today announced the acquisition of Fairchild Controls Corporation, a leading provider of proprietary thermal management systems, auxiliary power generation systems and related aftermarket spares and repairs, from Airbus Defense and Space, Inc. The acquired business, which is based in Frederick, Maryland, will operate as Triumph Thermal Systems -Maryland and be included in the Aerospace Systems Group. The business is expected to add approximately $45.0 million in annual revenue and to be immediately accretive to earnings.
Employing approximately 150 employees, the company’s key product offerings include electrically-driven vapor cycle systems and auxiliary power generation technology which delivers supplementary hydraulic power for commercial aircraft and military platforms. The company also provides proprietary aftermarket spares repair and overhaul services to a large, global installed base of over 3,500 systems.
Richard C. Ill, Triumph’s President and Chief Executive Officer, said, “We are pleased to have acquired Fairchild Controls, which will augment our current capabilities and allow us to offer both air and liquid cooling systems for thermal management. Through this acquisition, we obtained custom, high reliability control solutions with a recurring proprietary aftermarket and have positioned ourselves as a world-class provider of thermal management and auxiliary power generation systems. We are pleased that the management team, led by Peter Borgel, will remain with Triumph to continue to deliver exceptional value to their customers.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
Airbus Defense and Space, Inc., headquartered in Herndon, VA, offers a broad array of advanced solutions to meet U.S. military and commercial requirements, including fixed-and rotary-wing aircraft, homeland security systems, public safety communications, defense electronics and avionics, and threat detection systems.
More information about Triumph Group can be found on the company’s website at http://www.triumphgroup.com.
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements of expected additional revenue and accretion. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group’s reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2015.