Forgital: Secures $825 Million in Senior Secured Notes for Acquisition
Deal News | Feb 18, 2025 | Paul Hasting
Paul Hastings LLP provided advisory services for the issuance of $825 million in senior secured fixed notes due in 2032, facilitating Stonepeak's acquisition of Forgital, a leading manufacturer of advanced forged and machine-finished components. The deal also included a new $125 million multicurrency revolving credit facility, contributed by a syndicate of initial purchasers led by RBC Capital Markets and involving major financial institutions like Barclays, Morgan Stanley, and UBS. Stonepeak, an investment firm with a focus on infrastructure and real assets, seeks to leverage Forgital's industrial capabilities, expanding its assets portfolio.
Sectors
- Financial Services
- Aerospace and Industrial Manufacturing
- Private Equity and Real Assets
Geography
- Global – The participants and operations in the article involve multinational corporations and financial institutions.
- United States – Stonepeak, the acquiring firm, and Paul Hastings, the advising law firm, have significant operations based in the United States.
Industry
- Financial Services – The article involves financial services through the issuance of senior secured notes and credit facilities.
- Aerospace and Industrial Manufacturing – Forgital is a key player in the manufacturing sector, specifically focusing on aerospace and industrial components.
- Private Equity and Real Assets – Stonepeak operates within the private equity sector, with a specialization in infrastructure and real assets.
Financials
- 825 million – Issuance of senior secured fixed rate notes due 2032.
- 125 million – Multicurrency revolving credit facility to support the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paul Hastings LLP | Legal Advisor | Company | A premier law firm acting as a legal advisor in the transaction. |
| Stonepeak | Acquiring Company | Company | An investment firm specializing in infrastructure and real assets. |
| Forgital | Target Company | Company | A manufacturer of advanced forged and machine-finished components for the aerospace and industrial markets. |
| RBC Capital Markets | Lead Initial Purchaser | Company | Led the syndicate of initial purchasers for the note issuance. |
| Barclays, Morgan Stanley, UBS, BNP Paribas, Crédit Agricole, Deutsche Bank | Initial Purchasers | Companies | Participated in the syndicate facilitating the note issuance. |