Arlington Capital Partners has launched a new company after the private equity firm completed its purchase of the composites business and three aerostructure fabrication facilities from Triumph Group (NYSE: TGI).
Both parties first announced the transaction in August 2020 and ACP said Monday that Pete Wick, who most recently led Triumph Group’s aerospace structures segment, will serve as CEO of the newly formed company Qarbon Aerospace.
The acquired assets in Georgia, Texas and Thailand have a combined manufacturing area of 1.8 million square feet and approximately 900 employees.
The Triumph Composites sites in Georgia and Thailand fabricate assemblies and structural and engine components for both military and commercial aircraft. The Red Oak, Texas-based facility produces wings, fuselage assemblies and other large structures.