06:26 AM EST, 02/03/2025 (MT Newswires) -- Triumph Group ( TGI ) shares jumped early Monday after the aerospace supplier agreed to be acquired and taken private by affiliates of Warburg Pincus and Berkshire Partners in a roughly $3 billion all-cash deal.

Under the terms of the deal, the private equity firms will purchase Triumph through a newly formed entity for $26 per share in cash. The consideration represents a premium of about 123% to Triumph's closing stock price on Oct. 9, the last trading day before media speculation surfaced about a potential sale.

Triumph offers mission-critical engineered systems and proprietary components for original equipment manufacturer and aftermarket customers. Shares of the company surged 37% in the most recent premarket activity.

The transaction, which requires approval from regulators and Triumph's shareholders, is expected to be completed in the second half of the year. The company will no longer trade on the New York stock exchange once the deal closes.

"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 Chief Executive 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."

Triumph is set to announce its fiscal third-quarter results later in February but canceled its planned earnings conference call.

In November, the company reported fiscal second-quarter adjusted earnings of $0.20 a share, compared with a loss of $0.05 the year before. Sales ticked up 1% to $287.5 million. At the time, the firm said it expected 2025 adjusted EPS to be in a range of $0.70 to $0.76 and revenue of around $1.2 billion.

"Triumph plays a critical role in the aerospace and defense industry and is known for providing high quality products on key platform," Berkshire Partners Managing Director Blake Gottesman said. "We look forward to helping accelerate the next phase of Triumph's growth."

Warburg Pincus' managing director, Dan Zamlong, said the firm is aiming to increase opportunities for Triumph's portfolio.