Form Technologies Acquired by Ares Management in a $304 Million Deal

Deal News | Jan 22, 2025 | PR Newswire Cision Form Technologies, Inc.

Form Technologies, a global leader in precision-engineered components, has announced its acquisition by Ares Management. The transaction includes an infusion of approximately $304 million in new equity capital, with $154 million coming from common equity and $150 million from preferred equity. This capital, from investors including Ares, D. E. Shaw, and Ripple Industries, is intended to support deleveraging and strategic growth initiatives. Over the past years, Form Technologies has earned recognition in key markets like automotive and aerospace, and will utilize Ares' support to expand operations and drive growth. Jefferies LLC was the financial advisor to the Company, and Kirkland & Ellis LLP served as legal counsel, while Evercore and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Ares. Form Technologies serves almost 2,000 clients across 22 countries, in industries ranging from healthcare to enterprise technology. Ares Management, a leader in alternative investment with $464 billion assets under management, sees promising growth potential under Form's current leadership.

Sectors

  • Precision Engineering
  • Private Equity
  • Automotive and Aerospace Manufacturing

Geography

  • United States – Form Technologies is headquartered in Charlotte, North Carolina, indicating the primary geography of its operations.
  • Global – With operations in 22 countries, Form Technologies has a significant global presence, serving a diverse international customer base.

Industry

  • Precision Engineering – Form Technologies operates in the precision engineering sector, providing high-precision components to industries such as automotive, aerospace, healthcare, and technology.
  • Private Equity – Ares Management's acquisition and investment strategies align with the activities of the private equity industry, focusing on growth and value creation.
  • Automotive and Aerospace Manufacturing – Form Technologies serves key end markets including automotive and aerospace, indicative of its role in this sector.

Financials

  • $304 million – Total new equity capital received by Form Technologies to support deleveraging and growth.
  • $154 million – Amount of common equity received from investors including Ares, D.E. Shaw, and Onex Credit.
  • $150 million – Amount of preferred equity received from D.E. Shaw group and Ripple Industries.
  • $464 billion – Assets under management by Ares Management as of September 30, 2024.

Participants

NameRoleTypeDescription
Form Technologies, Inc.Target CompanyCompanyA global leader in the production of precision-engineered components.
Ares ManagementBidding CompanyCompanyA private equity firm offering a wide range of investment solutions, acquiring Form Technologies.
D.E. Shaw GroupInvestorCompanyParticipated as an investor in the equity capital for Form Technologies.
Onex CreditInvestorCompanyA contributing investor in the common equity of Form Technologies.
Ripple IndustriesInvestorCompanyContributor to the preferred equity investment in Form Technologies.
Jefferies LLCFinancial AdvisorCompanyServed as financial advisor to Form Technologies.
Kirkland & Ellis LLPLegal AdvisorCompanyProvided legal counsel to Form Technologies.
EvercoreFinancial AdvisorCompanyFinancial advisor to Ares Management.
Paul, Weiss, Rifkind, Wharton & Garrison LLPLegal AdvisorCompanyProvided legal counsel to Ares Management.
David AngellCEOPersonChief Executive Officer of Form Technologies.
Aaron RosenCo-Head of Opportunistic CreditPersonPartner and Co-Head of Opportunistic Credit at Ares Management.