Triumph Group Inc. (TGI) saw its stock surge nearly 18% on Monday's pre-market trading, following reports that the aircraft parts and services supplier is in advanced talks to be acquired by private equity firms Warburg Pincus and Berkshire Partners for around $3 billion, including debt.
According to Bloomberg News, the potential deal could value Triumph at $26 per share, representing a significant premium over the company's Friday closing price of $18.74. While no final decision has been made, an agreement could be announced as soon as Monday.
Triumph, based in Radnor, Pennsylvania, offers a range of aftermarket products for commercial and military aircraft, including engine parts and integrated systems. The company has been exploring strategic options, including a potential sale, and recently divested its product support arm to AAR Corp. for $725 million to focus on its core aftermarket business.