By Colin Kellaher
Triumph Group has agreed to be acquired by private-equity firms Warburg Pincus and Berkshire Partners for about $2 billion in cash.
Triumph on Monday said its shareholders will receive $26 a share in cash, a 39% premium to Friday's closing price of $18.74 for the Radnor, Pa., maker of aircraft spare parts.
The purchase price is more than double Triumph's closing price of $11.65 on Oct. 9, 2024, before published reports said the company was exploring strategic options, including a potential sale.
Triumph shares were recently up nearly 37% to $25.59 in premarket trading.
Triumph said the deal, slated to close in the second half of 2025, carries a total enterprise value of about $3 billion.
Boston-based Berkshire Partners, which invests in midmarket companies valued between $200 million and $2 billion, is currently investing from its 11th flagship fund, which closed last late year with roughly $7.8 billion in commitments.
New York buyout firm Warburg Pincus, with more than $86 billion in assets under management, has a diverse active portfolio of more than 230 companies.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 03, 2025 06:01 ET (11:01 GMT)
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