Who is TRIUMPH?
TRIUMPH is a leading international aviation services company that designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, and components. We serve the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.
How is the company structured?
TRIUMPH operates through 5 operating companies with 28 locations in 12 states and 7 foreign countries.
What is TRIUMPH’s strategic course?
The company, with an industry-wide reputation for delivery of products and services at a consistently high level of quality, is well positioned with the aviation parts and services industry as a primary provider and “vendor of choice” in the worldwide aviation industry. TRIUMPH’s core business strategies include:
- Expansion of capabilities and services in MRO
- Driving the development of intellectual property through our commitment to engineering and performance excellence.
- Development and deployment of high-performance upgrades for our fielded fleet of products such as electronic fuel controls and high-performance fuel pumps
- Developing new capabilities in response to more electric aircraft initiatives and military requirements, such as high-capacity thermal solutions for high power electronics or directed energy weapon applications.
- Expanding our market leading position in aircraft landing gear systems, actuation and control including extend and retract, up-locks, electric brakes, nose wheel steering, and door actuation solutions.
- Expanding our strong market presence as a designer of complex gear boxes such as engine mounted or airframe mounted accessory drives (EMAD’s, AMAD’s), emergency power gearboxes or power takeoffs.
What is TRIUMPH’s historical background?
TRIUMPH was formed in 1993 by members of management and Citicorp Venture Capital, Ltd. to acquire certain businesses and assets from IKON Office Solutions, Inc. The acquired businesses had been part of IKON Office Solutions, Inc. for a number of years and consisted predominantly of assets related to their manufacturing operations.
When did TRIUMPH go public?
TRIUMPH completed an Initial Public Offering of $19 per share and become listed on the New York Stock Exchange in October of 1996. Triumph also completed successful Follow-On equity offerings at $33 per share in November of 1997, and at $37.50 per share in March of 2001.
Who are TRIUMPH’s customers?
TRIUMPH’s customer base currently includes nearly all the world’s major commercial airlines; an increasing number of air cargo carriers including Federal Express, United Parcel Service and Atlas; OEMs such as Boeing, Lockheed, Sikorsky, Gulfstream, Bell, Northrop-Grumman, Airbus, GE, Rolls-Royce, Pratt & Whitney, Honeywell; as well as the military. TRIUMPH has established an industry-leading reputation through its dedication to quality, high performance products, experienced management, and highly skilled employees. As a result, we expect our customer base to continue to grow as we increase cross-selling efforts of related products and services. Our reputation for problem-solving, engineering excellence, quality control and timely delivery has also helped us expand our presence in Europe, South America and Asia.
What is TRIUMPH’s acquisition strategy?
TRIUMPH has successfully completed 39 acquisitions since October of 1995, with 35 taking place since our initial public offering in October 1996. Consolidation continues to impact the aircraft industry and the associated repair and overhaul business. Customer demand for broad lines of products and services from fewer vendors has also increased. With these industry changes and increased demand, TRIUMPH has acquired many well-managed companies with strong industry reputations. We expect to continue our growth while strictly adhering to our corporate philosophy that an acquisition must provide new products or services to our customers within our core capabilities; expand our capabilities or the markets we serve; and be immediately accretive to earnings and cash flow per share.
Further, TRIUMPH continues to execute on our transformation plan, divesting non-core businesses to enable debt reduction and enhance liquidity while moving the company towards its future state as a leading provider of systems and aftermarket services. Since 2016, TRIUMPH has divested 13 non-core businesses to de-lever the company, enhance margins, and position the company for long-term success.
