COSTA MESA, Calif., May 23, 2006 (PRIMEZONE) -- Publicly traded Triumph Group Inc. (NYSE:TGI), through its subsidiary Triumph Structures - Wichita Inc., acquired Wichita-based Excel Manufacturing Inc. ("Excel"). The acquired business is expected to add approximately $35 million of revenue for fiscal 2007. The cash terms of the deal were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to Excel.
"Triumph is adding Excel to its Aerospace Systems Group, which will strengthen the group's position within its commercial and defense customer base," said Paul Weisbrich, senior managing director for RSM EquiCo Capital Markets.
Richard C. Ill, Triumph's president and chief executive officer, said: "The Excel Manufacturing transaction adds a significant new capability to our Aerospace Systems Group with their high-speed monolithic machining processes. The ability to machine monolithic one-piece structural components strengthens Triumph's product offerings to our major airframe customers. Excel's strong existing backlog, military/commercial sales mix and projected sales growth should provide an attractive return on investment. We are pleased that the management team, led by Marwan Hammouri, will remain with Triumph to continue executing Excel's growth strategy."
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets is a subsidiary of RSM EquiCo Inc., a financial services firm affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
RSM EquiCo's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York, London and Coral Springs, Fla.
About Excel Manufacturing Inc.
Founded in 1975, Excel manufactures aircraft structural components specializing in complex precision machining, subassemblies and sheet metal fabrication, primarily for major aviation and aerospace clients. The company's products include all or some components of the following: bulkheads, horizontal stabilizer leading edge assembly, cockpit window frames, fuselage structural frames, cargo doorframes, 26-part kit rear cargo door intercostals, floor beams, 9-G barriers and stringers. Excel's products can be found on commercial aerospace programs such as the entire line of Boeing's passenger aircrafts including the 737 and 777; Cessna's Citation X and Sovereign; Bombardier's CRJ series regional jets; and Learjet series business jets. Excel also provides complex parts for front line military aircrafts such as the Boeing F15 jet fighter, F18, Chinook, and V22 Osprey tilt-rotor aircraft, as well as the Sikorsky UH60 Blackhawk. The company employs approximately 140 people.
About Triumph Group Inc.
Triumph Group is a global supplier and overhauler of aerospace systems and components. Operating in 41 locations, Triumph designs, engineers, manufactures repairs and overhauls aircraft components, subassemblies and systems. The company provides a wide variety of products and services through its two operating groups: Triumph Aerospace Systems Group and Triumph Aftermarket Services Group. The company serves a broad, worldwide spectrum of the aviation industry, including commercial and regional airlines, air cargo carriers, as well as Original Equipment Manufacturers (OEMs) of commercial, regional, business and military aircraft and aircraft components.
RSM EquiCo is a tradename for RSM EquiCo, Inc. and its subsidiaries, which include: RSM EquiCo Capital Markets, LLC (broker-dealer licensed by the SEC and member NASD, SIPC), RSM EquiCo Canada, Inc. (limited market dealer registered with the Ontario Securities Commission) and EquiCo Europe Limited (authorised and regulated by the Financial Services Authority). RSM EquiCo, Inc. and its subsidiaries are wholly owned subsidiaries of H&R Block.