Triumph closes in on three acquisitions

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Triumph Group has entered in to agreements for a string of acqusisitons in the midst of the economic downturn, inking three deals in the past two months.

Triumph this month purchased aircraft structural components manufacturer Merritt Tool Company and Saygrove Defence & Aerospace Group, which designs and builds control products for flight actuation and motor control applications in all-electric aircraft and unmanned aerial vehicles.

The companies will join Triumph Aerospace Systems Group, with Kilgore, Texas-based Merritt Tool operating as Triumph Structures-East Texas.

A.P. Merritt Jr. will continue to lead the company, which focuses on medium to large conventional computer numerical control milling, turning, grinding and assembly.

Merritt is expected to add $30 million of revenue to Triumph Group in fiscal 2010.

Buckley, England-based Saygrove Defence & Aerospace will operate as Triumph Actuation & Motion Control Systems-UK and is expected to add roughly $11 million of revenue.

Steve Ward and Gary Parkes will continue to run the company for Triumph, which designs, engineers, manufactures, repairs and overhauls aircraft components and accessories.

Financial terms were not released for those two agreements, which are the latest for Triumph. Last month Triumph purchased assets of the aviation segment of Kongsberg Automotive.

Located in Basildon, England and Heiligenhaus, Germany, Kongsberg's aviation division provides cable control systems for commercial and military aircraft.

Pending German and UK regulatory approval, the transaction is expected to close by 31 March.

After the deal is finalized, the company will operate as Triumph Controls-UK and as Triumph Controls-Germany, both part of Triumph Aerospace Systems Group.