TurbineAero, Inc. announces definitive agreement to acquire Triumph’s Aviation Services Asia APU Repair Product Line (“RPL”).
Chandler, Arizona — 5/14/2018 —TurbineAero has recently signed a definitive agreement to buy 100% of 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.
About TurbineAero, Inc.
TurbineAero was created to become the most comprehensive, flexible, and customer-focused APU MRO Services company in the world. As the largest independent APU MRO globally, TurbineAero repairs, sells, leases, tests, and certifies APU and related parts accessories. TurbineAero currently has four locations, three business units are located near Phoenix, AZ and the fourth is just outside of Bangkok, Thailand. For more information, please visit www.turbineaero.com
About The Gores Group, LLC
The Gores Group, founded in 1987 by Alec Gores, is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. Over its 30-year history, The Gores Group has become a leading investor having demonstrated a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group also maintains an office in Boulder, Colorado. For more information, please visit www.gores.com.