RADNOR, PA — Triumph Group, Inc. (NYSE: TGI), a leading aerospace and defense systems supplier, has officially transitioned to private ownership following its acquisition by private equity firms Warburg Pincus and Berkshire Partners. The transaction, announced earlier this year, closed this past week and marks a significant new chapter for the longtime industry player.
With the deal finalized, Triumph is no longer a publicly traded company and will operate as an independent, privately held entity under the continued TRIUMPH name. As part of the leadership transition, Jorge L. Valladares III has been appointed Chief Executive Officer, succeeding Dan Crowley, who led the company since 2016.
“I am honored to lead TRIUMPH in this next phase of growth,” Valladares said in a statement. “I look forward to working closely with the TRIUMPH team to further strengthen and expand our capabilities and meet the evolving needs of our customers.”
Valladares brings extensive industry experience to the role, most recently serving as Chief Operating Officer of TransDigm, a prominent aerospace component manufacturer. His appointment signals the new owners’ intent to accelerate operational improvements and pursue strategic growth in both original equipment manufacturing (OEM) and aftermarket segments.
Triumph specializes in the design, engineering, and manufacturing of proprietary systems and components critical to aerospace and defense platforms. Its customer base spans commercial aviation, military aircraft, and global aerospace suppliers.
Dan Zamlong, Managing Director at Warburg Pincus, underscored the firm’s commitment to supporting innovation at TRIUMPH. “Companies across the aerospace industry rely on TRIUMPH for the premier design, production, and services it provides,” he said. “We are excited to support Jorge and the leadership team.”
Blake Gottesman, Managing Director at Berkshire Partners, added, “TRIUMPH is well-positioned to accelerate its growth as a privately held company, strengthening its position as a highly-valued aerospace and defense supplier.”
Outgoing CEO Dan Crowley, who steered Triumph through a decade of transformation, praised the new ownership structure and leadership transition. “I am incredibly proud of the progress that TRIUMPH has made in the past decade,” he said. “Jorge’s deep industry experience and proven track record will benefit all TRIUMPH stakeholders.”
The acquisition aligns with both private equity firms’ broader strategies in the industrial and aerospace sectors. Warburg Pincus and Berkshire Partners each have a long history of investments in aviation and defense businesses, including previous stakes in TransDigm, Consolidated Precision Products, and Wencor Group.
Now under private ownership, TRIUMPH is expected to pursue strategic investments, operational streamlining, and expanded partnerships to drive growth in a highly competitive and increasingly technology-driven sector.
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