Triumph Group Explores Strategic Options

Triumph Group jumped late Thursday as the company is exploring strategic options, including a potential sale, according to Bloomberg.

Triumph Group Inc (NYSE:TGI) saw a 25% increase in trading following this news.

As an aircraft components maker with a market capitalization of $851 million, Triumph has enlisted a financial advisor to assess interest from strategic buyers and private equity firms.

This year has been challenging for the company, with shares down over a third year-to-date, largely due to slowing Boeing (NYSE:BA) 737 Max shipments impacting its order book.

A representative for Triumph declined to comment on the potential sale when approached by Bloomberg.

Sources noted that discussions are still in the early stages, and Triumph could opt to stay independent instead of pursuing a sale.