Triumph To Buy General Donlee For $110 Mln Cash - Quick Facts

(RTTNews) - Triumph Group, Inc. (TGI), an aerospace products and services company, Thursday said it entered into a definitive agreement to acquire General Donlee Canada Inc. (GDI.TO), a manufacturer of flight critical complex machined components, for about $110 million in cash.

As per the agreement, Triumph will buy General Donlee's outstanding shares and pay off existing debt. The deal is expected to close in the third quarter of fiscal year 2014.

The acquired business, which is expected to add about $60 million in annual revenue and to be immediately accretive in the earnings, will be included in the Aerospace Systems Group, Triumph said.

Jeffry Frisby, Triumph's President and Chief Executive Officer, said, "The acquisition of General Donlee will add a strong position in engine and main rotor shafts to our product capabilities."