(Reuters) – Aircraft components maker Triumph Group Inc (TGI.N) said it agreed to acquire Vought Aircraft Industries from Carlyle Group in a $1.44 billion cash-and-stock deal to strengthen its aerostructure systems business.The company said it expects the deal, which will be about 7.5 million shares and $525 million of cash, to add in excess of $1.00 per share to earnings on a full-year run-rate basis.
Triumph said it expects to fund the deal with a combination of current and new credit facilities and has obtained certain financing commitments subject to customary conditions.
“The integration of Vought with Triumph will create a leading tier one capable supplier with strong positions in commercial and military platforms,” Triumph Chief Executive Richard Ill said in a statement.
Vought, based in Dallas, Texas, is a manufacturer of aerostructures for commercial, military and business jet aircraft with sales of $1.9 billion in 2009.
Triumph shares closed at $61.22 Monday on the New York Stock Exchange.
(Reporting by Bijoy Koyitty in Bangalore; Editing by Maju Samuel)