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Triumph Group Hires Goldman Sachs for Sale of Gearing Assets

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✨ Summary by AI at Octus
Triumph Group, an aerospace parts maker backed by Warburg Pincus and Berkshire Partners, is considering selling its gearing assets with the assistance of Goldman Sachs. The business Triumph plans to divest generates approximately $35 million in EBITDA and $230 million in revenue. Triumph, headquartered in Radnor, Pennsylvania, designs and services aircraft systems and components for various clients, including commercial airlines and the military. The company's systems and support division reported a 25% increase in adjusted EBITDAP for the fiscal year ending March 31, 2025, while its interiors unit showed a positive turnaround with $7.8 million in EBITDAP.

Reporting: Collin Krabbe, Yuheng Zhan

Triumph Group, the Warburg Pincus- and Berkshire Partners-backed aerospace partsmaker, is in the early stages of working with Goldman Sachs on a potential sale of its gearing assets, according to sources.

The business Triumph plans to divest generates roughly $35 million in EBITDA and about $230 million in revenue, the sources said.

Headquartered in Radnor, Pa., Triumph designs, produces and services aircraft systems and components, including actuation, fuel, hydraulic and geared systems, according to its website. The company’s customers include commercial airlines, air cargo carriers, original equipment manufacturers and the military.

Triumph’s systems and support division reported $250.8 million in adjusted EBITDAP for the fiscal year ended March 31, 2025, up 25% year over year, according to a 10-K filing. The division’s capabilities include landing gear-system design and aerospace gearbox offerings, including engine accessory gearboxes and helicopter transmissions, according to the filing.

The company’s interiors unit reported $7.8 million in EBITDAP during FY 2025, following a $5 million loss the year prior, according to the 10-K. The unit is a supplier of insulation parts, among others.

Warburg and Berkshire took the company private for an enterprise value of about $3 billion in a deal completed in July 2025. Goldman was the sell-side advisor on that transaction. A debt package backing the buyout included a $1.375 billion first-lien term loan, a $125 million first lien delayed-draw term loan and a $250 million first lien revolving credit facility, according to a filing with the Securities and Exchange Commission.

Cahill Gordon & Reindel LLP advised Apollo Capital Management LP on a first lien credit facility for Titan BW Borrower LP to fund the Triumph acquisition, according to an announcement.

As of March 31, business development company lenders to Titan BW Borrower LP included Apollo Debt Solutions BDC and AGL Private Credit Income Fund, according to Octus’ BDC Database. Titan BW’s debt included a first lien term loan due July 2032 priced at SOFR+250 bps with a 2.88% PIK component from Apollo Debt Solutions BDC as of the end of March, according to the BDC’s 2026 first-quarter financial report.

Financial sponsors that have invested in aviation component businesses include JLL Partners, which is holding exclusive talks to sell Heads Up Technologies to Loar Holdings Inc., the publicly traded aerospace and defense manufacturer, according to a July 22 Octus report. Heads Up designs and manufactures aviation componentry such as interior and exterior lighting systems, cabin management systems and tactile passenger hardware components, primarily for business jets, according to JLL’s website.

Warburg and Goldman declined to comment. Triumph and Berkshire did not respond to requests for comment.

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