Triton Exits Renk With Sevenfold Profit as Defense Stocks Boom

Triton Partners has exited its remaining stake in tank part-maker Renk Group AG, completing a deal that earned the buyout firm seven-times the money it invested, according to people familiar with the matter.

The investment firm has sold its remaining shares in the gearbox and transmissions maker for the defense industry, it said in a statement on Friday. The sale follows a transfer of around 9% of the company‘s shares to Franco-German defense contractor KNDS NV last month.

The scale of Triton’s returns is a result of the surge in value of defense stocks in the past year. Renk’s ...