TRIUMPH GROUP INC: M&A transaction — Triumph Group completes $725M sale of Product Support to AAR, nets ~$700M after tax

TRIUMPH GROUP INC

Closed March 1, 2024: $725M cash sale of Product Support (MRO business) to AAR Corp (NYSE: AIR).
Net after-tax proceeds ~$700M; primarily used to redeem $435.6M of 7.750% 2025 Notes and $120M of 9.000% First Lien Notes.
Redemptions used ~$575M cash, covering $555.6M principal plus accrued interest and premium.
Post-divestiture, Triumph focuses on OEM components, spares, and IP-based aftermarket; 21 sites, ~4,500 employees, 90% sole-sourced.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TRIUMPH GROUP INC completed a disposition involving AAR Corp. for $725 million (closed 2024-03-01).

Action: disposition
Counterparty: AAR Corp.
Consideration: $725 million
Closing: 2024-03-01

Exact text from the filing

the “Sellers”), and AAR Corp., a Delaware corporation (“Buyer”), occurred on March 1, 2024. In connection therewith, the Sellers sold the Product Support business to Buyer for $725 million in cash, subject to customary adjustments set forth in the Agreement. The foregoing description of the Agreement and the transactions contemplated thereby does not purport to be

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Source: SEC EDGAR

accession 0000950170-24-027616

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