Carlyle to Acquire Forgital, an Italian company producing large forged and machined components for Aerospace (US)

Thu, 30 May 2019- Global investment firm The Carlyle Group (NASDAQ: CG) today announced it has reached an agreement to acquire the entire shareholding in Forgital, a manufacturing company producing large forged and machined components for use in the aerospace and industrial industries, controlled by members of founding Spezzapria family

and, with a minority stake, by Fondo Italiano d’Investimento, managed by Neuberger Berman.

The transaction, which values Forgital at approximately 1 billion Euros, is expected to be completed in the second half of 2019, subject to customary closing requirements and regulatory approvals. Funds for the investment will come from Carlyle Europe Partners V (CEP V), a European-focused upper-mid market buyout fund and from Carlyle Partners VII (CP VII), a US-focused buyout fund.

Established in 1873 with headquarters in Vicenza, Italy, Forgital is a specialist manufacturer of machine-finishedforged and laminated rolled rings, made from several different materials, including steel, aluminium, titanium and nickel-based alloys. They are used in several applications across many industries, including aerospace, oil & gas, construction, mining and power generation. 

Given its reputation for advanced technology, high quality products and world-class customer service, Forgital has established and grown strong relationships with the key aeroengine manufacturers.  Forgital employs over 1,100 people across 9 facilities in Italy, France and United States and through its dedicated global salesforce.

Nadir, Roberto & Giorgio Spezzapria, who are fifth generation members of the company’s founding family, commented: “We are all excited to have Carlyle investing in Forgital to start a new phase of growth and development for the company which will be supported by the passion and full commitment of our management team and all our employees whom we would like to thank for all their commitment to date. We are equally confident that Carlyle’s aerospace and industrial sector expertise and global network will play a significant role in Forgital’s continued growth. The families of Nadir and Roberto also have an option to reinvest in the company at closing”.

Filippo Penatti, Managing Director, Carlyle Europe Partners, added: “We admire Forgital’s strong business model, manufacturing excellence and high capability to innovate. In partnership with the experienced management team and talented workforce, we look forward to supporting Forgital’s expansion through the creation of a global growth platform, notably in the aerospace sector”.

For more information:

The Carlyle Group:

Barabino & Partners

Marina Riva- Federico Steiner, Tel:+39 02.72.02.35.35

Email: m.riva@barabino.itf.steiner@barabino.it

Catherine Armstrong

Tel: +44 (0) 207 894 1632

Email: catherine.armstrong@carlyle.com

About Forgital

Founded in 1873 in Vicenza, Italy by the Spezzapria family, Forgital is the leading European vertically integrated forging company, with 9 facilities in Italy, France and the USA, c. 1,100 employees worldwide and a global network of sales agencies.

Forgital specializes in forging, laminating and machining of rolled rings, with advanced capabilities across a range of materials including: carbon steels, alloy steels, stainless steels, aluminium, nickel, cobalt, copper and titanium alloys.

For more information on Forgital, please visit https://www.forgital.com/

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of March 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,725 people in 33 offices across six continents.

Web: www.carlyle.com

Videos: https://www.youtube.com/user/OneCarlyle

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Podcasts: http://www.carlyle.com/about-carlyle/market-commentary

Posted in Strategy.

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