US firm to acquire Canadian aerospace parts maker General Donlee Canada
- August 19, 2013
Triumph Group Inc., Berwyn, PA, plans to acquire General Donlee Canada Inc., Toronto, a Canadian manufacturer of flight critical complex machined components for $110 million in cash to acquire outstanding equity and retire the Canadian company's existing debt.
The deal will be completed in the third quarter of 2014.
Jeffry D. Frisby, Triumph's president and CEO, says "the acquisition of General Donlee will add a strong position in engine and main rotor shafts to our product capabilities. The proprietary manufacturing methods and technological know-how of the workforce positions the company well as the preferred supplier on many of its products. In addition, the acquisition will enhance our ties to existing customers as well as further diversifying our customer base. We are pleased that the management team will remain at Triumph to continue to deliver exceptional value to their customers."