Daher Aerospace has agreed to purchase Triumph Group’s (NYSE: TGI) metallic aerostructures production business located in Stuart, Florida, as the French aircraft manufacturer aims to grow its footprint in the North American market.
Triumph Group said Wednesday the business it will divest has approximately 600 employees and produces aerospace structures and components for the military and commercial customers and original equipment manufacturers.
The company expects to complete the sale in the first half of 2022, subject to customary closing conditions.
Lazard served as Triumph’s exclusive financial adviser on the transaction.
Triumph has divested 16 non-core businesses since 2016 as part of a broader business transformation initiative. In May 2021, private equity firm Arlington Capital Partners formed a new company after the acquisition of a composite business and three aerostructure fabrication facilities from Triumph.