Forgital: Carlyle Agrees to Sell to Stonepeak
Deal News | Dec 16, 2024 | The Carlyle Group
Global investment firm Carlyle has agreed to sell Forgital Group, a prominent European manufacturer of aerospace and industrial forged products, to Stonepeak. Forgital, known for its advanced capabilities in forging and machining materials such as titanium and aluminum, operates in Italy with additional facilities in France and the USA, employing over 1,100 people. The company serves major sectors including aerospace, defense, and oil & gas. Carlyle's tenure with Forgital saw significant business restructuring, expansion of its management team, and diversification of its product offerings. The sale process is expected to complete in the second quarter of 2025, pending regulatory approvals. Advisors for the transaction include J.P. Morgan, Latham & Watkins LLP, and Simpson Thacher & Bartlett LLP among others. Stonepeak, an alternative investment firm with expertise in infrastructure and real assets, intends to drive Forgital's growth by leveraging its experience and global network.
Sectors
- Aerospace Manufacturing
- Private Equity & Investment Management
- Industrial Manufacturing
Geography
- Italy – Forgital is headquartered in Italy and operates significant facilities there.
- United States – Forgital has operational facilities in the United States, and Stonepeak is headquartered in New York.
- Global – Both Carlyle and Stonepeak have a global presence, impacting numerous international markets and sectors.
Industry
- Aerospace Manufacturing – Forgital operates in the aerospace sector, producing advanced forgings for aircraft and aerospace components.
- Private Equity & Investment Management – Carlyle and Stonepeak are involved in managing investment funds, specializing in private equity and infrastructure assets, respectively.
- Industrial Manufacturing – Forgital supplies industrial sectors with forged products, highlighting its key role in the broader industrial manufacturing landscape.
Financials
- $447 billion – Value of assets under management by Carlyle as of September 30, 2024.
- $70 billion – Assets under management by Stonepeak.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Carlyle Group | Seller | Companies | A global investment firm managing $447 billion in assets and specializing in private equity, credit, and investment solutions. |
| Forgital Group | Target Company | Companies | A leading manufacturer in the aerospace and industrial sectors, known for its forged rings and assembled modules. |
| Stonepeak | Buyer | Companies | An alternative investment firm specializing in infrastructure and real assets with $70 billion in assets under management. |
| J.P. Morgan Securities Plc | Financial Advisor to Carlyle | Companies | Acted as advisor and sole financial advisor to Carlyle on the transaction. |
| Latham & Watkins LLP | Legal Counsel to Carlyle | Companies | Provided legal services to Carlyle during the transaction. |
| Simpson Thacher & Bartlett LLP | Legal Counsel to Stonepeak | Companies | Provided legal services to Stonepeak during the acquisition. |