Press Release Triumph TECT
NASHVILLE, TENNESSEE – Seale & Associates, Inc. announced that it acted as exclusive financial advisor to Triumph Group, Inc. (NYSE:TGI) on the sale of its Nashville operations to affiliates of TECT Aerospace. The Nashville based operations offer build-to-print, higher-level assembly capability including structural aircraft subassembly, as well as long and large part machining, processing, forming, and painting. The site employs approximately 300 people who support wing skin assembly and machining of stringers and spars. The two million square foot site has served the aviation, defense and transportation industries for 80 years under a variety of owners.
“Triumph continues to make great progress on its multi-year transformation plan to reshape its portfolio. We are pleased to have had the opportunity to assist them again in executing that plan,” said Robert Whitney, Managing Director. “We believe this transaction is a win for all involved and wish TECT and the Nashville team future success with the business.”
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.
TECT Aerospace manufactures high-precision, complex components and assemblies and specializes in global supply chain management, featuring TECT Hypervelocity®, a fully integrated manufacturing process producing high-speed aluminum monolithic parts capable of jig and jigless assembly.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients’ most complex dealings. For more information, please visit www.sealeassociates.com.