News & Analysis

Carlyle exits aircraft parts company for $1.44bn

Vought Aircraft, into which the firm first invested in 1992, will be acquired by the Triumph Group, which is paying $525m in cash.

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The Carlyle Group has sold Vought Aircraft, a parts manufacturer for airplanes, to Triumph Group for $1.44 billion, including $525 million in cash.

The deal includes the retirement of Vought debt. Once the deal closes, Carlyle will own 31 percent of the outstanding stock in Triumph. Triumph also makes parts for airplanes.

RBC Capital Markets acted as financial advisor to Triumph, and also provided debt financing in the deal.

Carlyle has long been an investor in the company. The firm first bought into the company in 1992 when it was part of Ling-Temco-Vought. Carlyle partnered in the deal with Northrop Grumman. Northrop bought out Carlyle’s stake in 1994, and Carlyle re-invested in 1996, and again for a full acquisition in 2000.

Vought, based in Dallas, Texas, makes structures for commercial, military and business jet aircraft. The company had sales of $1.9 billion in 2009.