Triumph Group to Acquire Goodrich Pump & Engine Control Systems from UTC
Triumph Group Inc. (Berwyn, PA) announced it has signed an agreement to acquire Goodrich Pump & Engine Control Systems (GPECS) from United Technologies Corporation (UTC). The acquired business, which will operate as Triumph Engine Control Systems LLC and be included in the Aerospace Systems Group, is expected to add approximately $195 million in annual revenue to Triumph, according to the announcement.
Located in West Hartford, CT, GPECS’s key product and service offerings include electronic engine controls, fuel-metering units, and main fuel pumps for both the OE and aftermarket/spares end markets. The company employs approximately 530 employees exclusively at its West Hartford facility.
Triumph Group designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft 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.
RBC Capital Markets acted as exclusive financial advisor and Ballard Spahr LLP served as legal counsel to Triumph on the transaction.
Source: TriumphGroup, Inc.
According to a press release from United Technologies, “…Sale of the pump and engine control systems unit was one of the divestitures required by regulatory authorities as a condition of UTC’s acquisition of Goodrich Corp.”