M&A · Industrials · Aircraft & Parts
Warburg Pincus and Berkshire Partners to acquire Triumph Group Inc
Announced Feb 3, 2025 · Closed Jul 24, 2025
Deal value$3.00BEV $3.00B
Premium123.0%To unaffected price
EV / Adj. EBITDA22.5x2.8x EV / Revenue
ConsiderationAll cash$26.00 per share
Transaction
- Acquirer
- Warburg Pincus and Berkshire Partners
- Target
- Triumph Group Inc (TGI)
- Buyer type
- Private equity
- Offer price per share
- $26.00
- Enterprise value
- $3.00B
- Status
- Closed Jul 24, 2025
Deal protections
- Break fee (target pays)
- $80.0M · 2.7%
- Reverse fee (buyer pays)
- $135M · 4.5%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Goldman Sachs
Sector context · Industrials
- Comparable deals
- 85 in the prior 24 months
- Premium
- 123.0% vs. 34.5% sector median
- EV / Adj. EBITDA
- 22.5x vs. 9.0x sector median
- Break fee
- 2.7% vs. 2.7% sector median
Timeline
- AnnouncedFeb 3, 2025
- Proxy filedMar 6, 2025
- Definitive proxyMar 19, 2025
- Shareholder voteApr 16, 2025
- ClosedJul 24, 2025
Valuation · fairness opinions
Analyst price targets$17.00$25.00
Analyst price targets$17.00$27.00
Precedent transactions$17.00$24.00
Precedent transactions$20.00$26.00
52-week trading range$17.00$21.00
Offer $26.00
Implied value per Triumph Group Inc share by analysis, from Goldman Sachs · DCF discount rate 12%–13%.