Covington Advises Warburg Pincus and Berkshire Partners in $3B Acquisition of TRIUMPH

WASHINGTON—Covington advised growth-focused private equity firms Warburg Pincus and Berkshire Partners in a definitive agreement under which their affiliates will acquire Triumph Group, Inc. (TRIUMPH) through a newly formed entity for a total enterprise value of approximately $3 billion. After the transaction’s closing, expected in the second half of 2025, TRIUMPH will become a privately held company jointly owned by Warburg Pincus and Berkshire Partners.

TRIUMPH, which is currently listed on the New York Stock Exchange, designs, develops, manufactures, repairs and provides spare parts across a broad portfolio of aerospace and defense systems and components. It serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

Scott Freling, alongside Emma Merrill-Grubb, led the Covington team advising Warburg Pincus and Berkshire Partners on government contracts matters. Other team members included Nooree Lee, Stephanie Barna, Ryan Burnette, and Victoria Skiera.