BERWYN, Pa.--(BUSINESS WIRE)--
Triumph Group, Inc. (NYSE:TGI) and All Metals Processing of Orange County (“All Metals Processing”) announced today the sale of Triumph Processing – Embee Division, Inc. to All Metals Processing. The transaction was effective September 14, 2017. The Embee Division generated revenues of approximately $42 million in Triumph Group’s fiscal year ended March 31, 2017. The new company will operate as Embee Processing.
Embee Processing is one of the nation’s leading aerospace metal finishing companies providing a broad menu of non-destructive testing and specialty coating services. The company provides more than 70 metal finishing, inspection and testing processes, including chrome, nickel and cadmium plating, high-velocity oxy-fuel (HVOF), IVD/Vac Cad, anodize/hard anodize, and paint and grinding services. The business is located in Santa Ana, California, and provides services to a variety of aerospace and defense customers across the United States.
“With the sale of Embee to All Metals Processing, Triumph continues to execute on its transformation plan, divesting non-core businesses to enable debt reduction and reinvestment in new areas of opportunity,” said Triumph Group President and CEO Dan Crowley. “Embee is an excellent fit with All Metals, and we are confident that the synergies between the two companies will benefit them both in the long run.”
“The team at Embee Processing is committed to quality service, and our goal is to continue to be a valuable and reliable partner to the aerospace and defense supply chain,” said Michael Coburn, CEO of All Metals. He added, “Embee Processing’s current management, technical and supporting staff will continue operations at its current facilities.”
All Metal Processing is owned by Watson Family Investments, LLC. The Watsons have a long history of owning and operating manufacturing and service businesses. Noel Watson spent much of his career as the CEO of Jacobs Engineering, now one of the largest engineering services firms in the world.
Seale & Associates acted as exclusive financial advisor to Triumph on the transaction. AeroAdvisory acted as exclusive financial advisor to All Metals on the transaction.
About Triumph Group:
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aircraft structures, components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
More information about Triumph Group can be found on the company’s website at http://www.triumphgroup.com.
About All Metals Processing:
All Metals Processing of Orange County, located in Stanton, California, provides non-destructive testing, anodizing, plating, paint and coatings, and additional metal finishing services to the aerospace and defense sectors.
More information about All Metals Processing of Orange County can be found on the company’s website at http://www.allmetalsprocessing.com.
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