Triumph Group shares surged almost 35% after the aerospace parts maker announced it would be taken private by Warburg Pincus and Berkshire Partners in a deal valued at about $3 billion.
Radnor, Pennsylvania-based Triumph said its shareholders will receive $26 per share, representing a premium of 123% over its unaffected closing stock price.
The purchase price also marks a 58% premium over its volume-weighted average price for the 90 days ending January 31.
"We are pleased to have reached this agreement, which reflects the culmination of the board's robust process and will deliver immediate, certain and premium cash value to our shareholders,” Triumph CEO Dan Crowley said in a statement.
“As a privately held company in partnership with Berkshire Partners and Warburg Pincus, Triumph will have an enhanced ability to meet our customers' evolving needs and provide more opportunities for our valued employees."
Dan Zamlong, Warburg Pincus managing director, added: "With our deep experience investing in and developing aerospace platforms, we look forward to working with Triumph's talented global team to increase opportunities for its portfolio and capture the growing demand for high-quality aerospace components."
The transaction is expected to close in the second half of 2025.