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Investors Buy Precision Casting, Machining Operations

July 15, 2011
Combined operations create integrated IGT, AGT manufacturer

A private equity firm, Torque Capital Group, has acquired Triumph Precision Castings as part of an investment program targeting the high-tech turbine market. In a separate transaction the group also acquired Dynamic Turbine LLC, a precision machining operation. Both companies are active in the industrial gas turbine and aerospace gas turbine engine markets, with products like rotating blades, vanes, shrouds, and other components for the hot-gas path section of turbine engines.

The value of the transactions has not been released. “The combination of the investment casting expertise of TPC Castings with the precision machining capability of DT creates a vertically integrated provider of complete, hot-section parts manufacturing solutions for the global IGT and AGT marketplaces,” according to Torque Capital managing partner Joseph Parzick.

Triumph Precision Castings, now to be called TPC Castings, is a Chandler, AZ, operation formerly owned by the Triumph Group Inc., and producing steel investment castings for rotating blades, vanes, and other turbine engine components.

“The foundry is equipped with a fully automated and environmentally controlled shelling line and VIM casting furnaces,” the buyer announced, “producing equiaxed, directionally solidified, and single-crystal castings.”

TPC Castings also has vacuum heat treat and caustic core-removal capabilities, and multiple in-house NDT options. The plant is ISO and AS9100 certified.

Dynamic Turbine in Norcross, GA, produces precision-machined, superalloy turbine components, including rotating blades and vanes. Its process equipment includes five-axis CNC grinding and milling machines, EDM systems, and lathes. The shop is ISO 9001:2008 certified and its automated CMM and other quality-control equipment process airfoils in all sizes. It has manufactured thousands of components operating in turbine engines worldwide since 2004.

Mark Doelling, president of TPC Castings and DT, stated: “The management team is looking forward to partnering with Torque Capital to build on and broaden the unique capabilities of the combined company, which will continue to deliver outstanding value to our customers.”