Triumph Group Announces the Sale of Triumph Processing – Embee Division, Inc. to All Metals Processing of Orange County
September 18 2017 - 8:30AM
Business Wire
Triumph Group, Inc. (NYSE:TGI) and All Metals Processing
of Orange County (“All Metals Processing”) announced today the sale
of Triumph Processing – Embee Division, Inc. to All Metals
Processing. The transaction was effective September 14, 2017. The
Embee Division generated revenues of approximately $42 million in
Triumph Group’s fiscal year ended March 31, 2017. The new company
will operate as Embee Processing.
Embee Processing is one of the nation’s leading aerospace metal
finishing companies providing a broad menu of non-destructive
testing and specialty coating services. The company provides more
than 70 metal finishing, inspection and testing processes,
including chrome, nickel and cadmium plating, high-velocity
oxy-fuel (HVOF), IVD/Vac Cad, anodize/hard anodize, and paint and
grinding services. The business is located in Santa Ana,
California, and provides services to a variety of aerospace and
defense customers across the United States.
“With the sale of Embee to All Metals Processing, Triumph
continues to execute on its transformation plan, divesting non-core
businesses to enable debt reduction and reinvestment in new areas
of opportunity,” said Triumph Group President and CEO Dan Crowley.
“Embee is an excellent fit with All Metals, and we are confident
that the synergies between the two companies will benefit them both
in the long run.”
“The team at Embee Processing is committed to quality service,
and our goal is to continue to be a valuable and reliable partner
to the aerospace and defense supply chain,” said Michael Coburn,
CEO of All Metals. He added, “Embee Processing’s current
management, technical and supporting staff will continue operations
at its current facilities.”
All Metal Processing is owned by Watson Family Investments, LLC.
The Watsons have a long history of owning and operating
manufacturing and service businesses. Noel Watson spent much of his
career as the CEO of Jacobs Engineering, now one of the largest
engineering services firms in the world.
Seale & Associates acted as exclusive financial advisor to
Triumph on the transaction. AeroAdvisory acted as exclusive
financial advisor to All Metals on the transaction.
About Triumph Group:
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania,
designs, engineers, manufactures, repairs and overhauls a broad
portfolio of aircraft structures, 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.
More information about Triumph Group can be found on the
company’s website at http://www.triumphgroup.com.
About All Metals Processing:
All Metals Processing of Orange County, located in Stanton,
California, provides non-destructive testing, anodizing, plating,
paint and coatings, and additional metal finishing services to the
aerospace and defense sectors.
More information about All Metals Processing of Orange County
can be found on the company’s website at
http://www.allmetalsprocessing.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170918005208/en/
All Metals ProcessingMichael Coburn, 714-828-8238Chief
Executive Officermichaelc@allmetalsprocessing.comorTriumph
GroupMedia Contact:Michele Long,
610-251-1000mmlong@triumphgroup.comorInvestor Relations
Contact:Sheila G. Spagnolo,
610-251-1000sspagnolo@triumphgroup.com
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