TurbineAero, Inc. announces definitive agreement to acquire Triumph’s Aviation Services Asia APU Repair Product Line
TurbineAero has recently signed a definitive agreement to buy the assets of Triumph Aviation Services Asia Auxiliary Power Unit (APU) Repair Product Line (“RPL”) from the Triumph Group (NYSE: TGI). The RPL purchase is the result of the exercise of an option provided to TurbineAero and its lead investor, The Gores Group, LLC in the agreement to buy Triumph Air Repair, Triumph Engines – Tempe, and the APU Overhaul Operations of Triumph Aviation Services Asia, LTD. (“TASA”). TurbineAero was founded February 9, 2017 upon the closing of the original acquisition. The RPL acquisition expands the services available from TurbineAero in Asia.
“The acquisition of Triumph’s Repair Product Line (RPL) division is the latest move by TurbineAero to provide the world’s best APU Maintenance, Repair and Overhaul (MRO) services to airlines, OEM’s and military customers,” said Rob Higby, CEO of TurbineAero. “RPL will further our repair capabilities and global reach, thus providing more options and flexibility to our partners and customers worldwide.”
“The Gores Group is pleased to partner with the TurbineAero team in Arizona and Thailand in the continued growth of the business,” said Edward Johnson, Senior Managing Director, The Gores Group. “TurbineAero and Triumph have worked well together ensuring a smooth transition for APU overhaul customers and will do the same for RPL.”
RPL is based in Chonburi, Thailand, providing repair services for APU component parts. The transaction is subject to customary closing conditions.