Stonepeak Secures $825 Million for Forgital Acquisition
Deal News | Feb 26, 2025 | Legal Community Italy
Stonepeak has successfully completed a high-yield bond issuance worth $825 million, aimed at facilitating the acquisition from Carlyle of the group led by Orizzonti 2, which includes Forgital. Forgital is a company specializing in the production of large-sized forged components for key sectors such as aerospace, oil & gas, and energy. In addition to the bond issuance, Stonepeak has entered into a revolving credit facility with a consortium of financing banks. Legal advisory for the issuer was provided by different teams: Legance handled the Italian finance and tax law aspects; Paul Weiss covered U.S. and U.K. law profiles. PedersoliGattai assisted the banks as initial purchasers for Italian law profiles, while Paul Hastings advised on U.S. capital markets and U.K. finance concerning the bond issuance.
Sectors
- Finance and Law
- Aerospace, Oil & Gas, and Energy
- Private Equity
Geography
- Italy – Many of the legal teams and possibly the operations of Forgital are based in Italy.
- United States – Paul Weiss Rifkind Wharton & Garrison, a U.S.-based law firm, was involved in the transaction.
- United Kingdom – Legal aspects related to U.K. law were managed by Paul Weiss and Paul Hastings.
Industry
- Finance and Law – The article discusses the financial transaction and the legal advisors involved in the bond issuance and acquisition process.
- Aerospace, Oil & Gas, and Energy – Forgital produces large-sized forged components for these sectors, and its acquisition is central to the transaction.
- Private Equity – Stonepeak, a private equity firm, is involved in the acquisition and bond issuance.
Financials
- 825 million dollars – The total value of the high-yield bond issuance by Stonepeak.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stonepeak | Bidding Company | Companies | A private equity firm undertaking the acquisition. |
| Forgital | Target Company | Companies | The company being acquired, known for producing large forged components. |
| Carlyle | Selling Company | Companies | The investment group selling Forgital. |
| Legance | Legal Advisor | Companies | Provided Italian finance and tax law advisory. |
| Paul Weiss Rifkind Wharton & Garrison | Legal Advisor | Companies | Advised on U.S. and U.K. law. |
| PedersoliGattai | Legal Advisor | Companies | Assisted banks with Italian law profiles as initial purchasers. |
| Paul Hastings | Legal Advisor | Companies | Advised banks on U.S. capital markets and U.K. finance aspects. |