The deal will result in Triumph becoming a privately held entity, with joint control by the acquiring companies.

Aerospace supplier Triumph Group Inc. (NYSE: TGI) entered into an agreement to be acquired by a newly formed entity under two big private equity firms, the companies announced in a Feb. 3 in a press release. The deal would be an all-cash transaction worth $3 billion.

Pennsylvania-based Triumph designs, manufactures, repairs and supplies spare parts for a wide range of products.

Private equity firms Warburg Pincus and Berkshire Partners agreed to pay $3 billion to acquire Triumph Group), a Pennsylvania maker of aftermarket parts for aerospace and defense systems. Why it matters: This suggests that private equity isn't worried about DOGE turning its attention to Pentagon spending,

The $3 billion sale to private equity firms Berkshire Partners and Warburg Pincus will take the publicly traded Radnor company private.