Add-on Acquisition • Aerospace

Triumph Group Acquires North American Aviation Services

On October 17, 2014, Triumph Group acquired aerospace company North American Aviation Services from Mangrove Equity Partners

Acquisition Context
  • This is Triumph Group’s 29th transaction in the Aerospace sector.
  • This is Triumph Group’s 27th transaction in the United States.
  • This is Triumph Group’s 5th transaction in Texas.

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M&A Deal Summary

Date October 17, 2014
Target North American Aviation Services
Sector Aerospace
Buyer(s) Triumph Group
Sellers(s) Mangrove Equity Partners
Deal Type Add-on Acquisition
Advisor(s) Bluestone Capital Partners (Financial)

Target Company

North American Aviation Services

San Antonio, Texas, United States
North American Aviation Services. Inc.provider of aviation maintenance, repair and overhaul (“MRO”) services focused primarily on plane-side aircraft fuel systems.
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Buyer Overview 1

Buyer

Triumph Group

Radnor, Pennsylvania, United States

Category Company
Founded 1993
Sector Aerospace
Employees4,530
Revenue 1.2B USD (2024)
DESCRIPTION

Triumph Group is an entity which designs, engineers, manufactures, overhauls, and repairs aircraft components, including mechanical controls, avionics, instrumentation, engine accessories, and auxiliary power units. Triumph Group was founded in 1993 and is besed in Radnor, Pennsylvania.


Deal Context for Buyer #
Overall 30 of 32
Sector: Aerospace 29 of 30
Type: Add-on Acquisition 20 of 20
State: Texas 5 of 5
Country: United States 27 of 29
Year: 2014 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-17 North American Aircraft Services

San Antonio, Texas, United States

North American Aircraft Services, Inc. is a provider of aviation maintenance, repair and overhaul (“MRO”) services focused primarily on plane-side aircraft fuel systems. The company employs approximately 300 people, the majority of whom are located at FBO business units throughout the United States, as well as at international locations. NAAS does extensive business with Boeing, Airbus, Northrop Grumman, Southwest Airlines, FedEx and UPS.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-05 Spirit AeroSystems - Gulfstream G650 and G280 Wing Programs

Tulsa, Oklahoma, United States

Spirit AeroSystems' Gulfstream G650 and G280 Wing Programs provide wing design, engineering, and production based in Tulsa, Oklahoma.

Buy -

Seller Profile 1

SELLER

Mangrove Equity Partners

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Mangrove Equity Partners is a lower-middle market private equity firm focused on investing in North American businesses valued from $15 to $75 million. Mangrove generally targets companies operating in basic industries with defensible market positions and solid growth prospects. Sectors of interest include services, manufacturing, and value-added distribution. Prospective businesses typically have revenues up to $100 million and are profitable with at least $2 million of cash-flow. Target transaction types include management buyouts/buy-ins, recapitalizations, industry, consolidations, family successions, and select turnarounds. Mangrove Equity Partners is based in Tampa, Florida.


Deal Context for Seller #
Overall 5 of 15
Sector: Aerospace 2 of 2
Type: Add-on Acquisition 4 of 12
State: Texas 2 of 3
Country: United States 4 of 14
Year: 2014 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-15 Integrated Global Services

Richmond, Virginia, United States

Integrated Global Services provides engineered, proprietary surface protection solutions and technologies to a diversified global customer base. The Company’s technologies and services solve metal wastage and reliability problems in mission-critical equipment found across energy, power generation and other industrial end markets. Integrated Global Services was founded in 2010 and is based in Richmond, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-01 ReadyLIFT Suspension

Henderson, Nevada, United States

designs, manufactures, and distributes suspension leveling products and lift kits for the truck, jeep, and sport utility vehicle markets. It also offers accessories through its AMI Styling brand, as well as value-branded suspension kits through its RuggedLift brand. Wheel Pros currently serves more than 10,000 retailers with a global network of 33 distribution centers spanning North America and Australia.

Buy -