Trilantic Capital Partners has Successfully Realized its Ownership Stake in Industria de Turbo Propulsores S.A.
Madrid, Spain – February 10, 2010 – Following a successful partnership, Trilantic Capital Partners (“TCP”) has sold its interest in Industria de Turbo Propulsores S.A (“ITP” or the “Company”) to existing investor Sener Grupo de Ingeniería S.A. (“Sener”).
ITP, headquartered in Spain, is a leading aircraft engine components manufacturer and maintenance services provider, specializing in the design, development and manufacturing of low pressure turbines and other components for civil engines (Airbus 330/340/350/380, Boeing 777/787) as well as participating in all major European programs for military aircraft and helicopters (notably the EJ200 engine powering the Eurofighter).
In September 2004, TCP partnered alongside Sener, a leading engineering Spanish group, and Socade, the venture capital arm of the Basque regional government, in the buyout of the entire indirect 27% participation of the Spanish Government in ITP. TCP’s and Socade’s investments enabled the Company to continue to develop strong research and development capabilities, its production capacity and an increasing and balanced participation in civil and military markets.
During TCP’s investment period, ITP has successfully established itself as an integrator from its previous supplier role, becoming the largest risk and revenue sharing partner of Rolls Royce, which will result in one out of every two wide-body planes to be delivered in the next 20 years worldwide having a low pressure turbine designed and developed by ITP.